Analysts Cuts Price Target On This Small Cap But Remain Bullish - Vincerx Pharma (NASDAQ:VINC)

Chardan analyst Matthew Barcus lowered the price target on Vincerx Pharma Inc VINC to $4 from $11 and kept a Buy rating on the shares.
The company announced a strategic update to focus on its Phase Ib development of lead program VIP152 in double-hit diffuse large B-cell lymphoma and chronic lymphocytic leukemia.
It also implemented a 33% workforce reduction and other cost reduction measures due to "unprecedented market conditions."
The analyst updated his model to reflect a narrower development strategy for VIP152, where the pursuit of the program in solid tumors has been removed.
Barcus also anticipates a longer development timeline as he shifts a potential launch of the program into 2026 from 2024.
B. Riley Securities also maintained their Buy rating on the company with a price target lowered from $12 to $6.
SVB Leerink too cut its price target from $19 to $6, with an Outperform.
Price Action: VINC shares are up 10.40% at $2.02 during the market session on the last check Tuesday.