Jefferies Downgrades Fusion Pharmaceuticals (FUSN) to Hold

Jefferies analyst Suji Jeong downgraded Fusion Pharmaceuticals (NASDAQ: FUSN) from Buy to Hold with a price target of $21.00 (from $10.00).

The analyst comments "AZN will acquire FUSN's radiopharma platform for $21/sh in cash (~$2B upfront), plus another $3/sh CVR (~$400M value) upon the acceptance of an NDA filing by Aug 2029 (seems probable). AZN was already an existing partner to some of FUSN's earlier-stage programs. Lead asset FPI-2265 has Phase II prostate cancer data soon, and we foresee no real surprises. We think the deal closes in Q2:24 - raising PT to $21 and DG to HOLD."

For an analyst ratings summary and ratings history on Fusion Pharmaceuticals click here. For more ratings news on Fusion Pharmaceuticals click here.

Shares of Fusion Pharmaceuticals closed at $10.64 yesterday.

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