Shares of Lantheus Holdings (LNTH) plummeted 5.03% in intraday trading on Tuesday following a significant downgrade from Truist Securities. The investment firm cut its rating on Lantheus from Buy to Hold and dramatically reduced its price target from $111 to $63, triggering a sell-off in the stock.
The downgrade comes as a substantial shift in Truist Securities' outlook for Lantheus, a company known for its diagnostic imaging agents and products. The sharp reduction in the price target, nearly halving the previous estimate, suggests that the analysts at Truist have reassessed their expectations for Lantheus' future performance and growth prospects.
Prior to this downgrade, Lantheus had maintained a generally positive outlook among analysts. According to FactSet data, the company had an average rating of "Buy" with a mean price target of $92. The stark contrast between Truist's new stance and the overall market sentiment underscores the potential impact of this downgrade on investor confidence, as reflected in today's significant stock price decline.
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