H.C. Wainwright analyst Vernon Bernardino lowered the firm’s price target on Aridis Pharmaceuticals to $10 from $19 and keeps a Buy rating on the shares. The analyst factored in the removal of near-term revenues from AR-301 use in COVID-19 patients with acute respiratory distress syndrome. However, the firm believes the data suggest that AR-301 has the potential to be a valuable addition to treatment options for ventilator-associated pneumonia caused by S. aureus, and could be used to treat specific patient populations.
Published first on TheFly
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