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Investing.com - Leerink Partners lowered its price target on Lantheus Holdings (NASDAQ:LNTH) to $90 from $97 while maintaining an Outperform rating, citing 340B pricing pressures and competitive dynamics affecting the company’s Pylarify franchise. Despite the reduced target, InvestingPro data shows analysts remain broadly positive with a Strong Buy consensus and targets ranging from $60 to $130. According to InvestingPro’s Fair Value assessment, Lantheus currently appears undervalued.
The diagnostic imaging company reported third-quarter 2025 revenue of approximately $384 million, exceeding analyst consensus estimates by about 5%. However, non-GAAP fully diluted earnings per share came in at $1.27, approximately 2% below consensus expectations. Lantheus has generated $1.53 billion in revenue over the last twelve months with a healthy gross profit margin of 62.2%.
Pylarify revenues declined approximately 4% quarter-over-quarter to $241 million and fell 7% year-over-year compared to the third quarter of 2024. The company attributed these results to 340B best price-driven price compression and competitive pressures from Ga-68 PSMA PET agents at large accounts.
Despite these challenges, U.S. Pylarify volumes increased 3.3% year-over-year, though they declined slightly sequentially due to seasonal trends. Leerink noted that third-quarter revenues were "not as bad as feared" heading into the earnings report.
Lantheus also announced a leadership transition plan, with Mary Anne Heino stepping in as interim CEO, which Leerink believes will ensure solid execution during the transition period.
In other recent news, Lantheus Holdings Inc . reported its third-quarter 2025 earnings, showcasing a mixed financial performance. The company posted an adjusted earnings per share (EPS) of $1.27, slightly below the forecast of $1.28. However, Lantheus exceeded revenue expectations, reporting $384 million compared to the anticipated $364 million. These results highlight both challenges and opportunities as the company navigates the competitive market landscape. The earnings call provided insights into the company’s strategic direction amidst these financial outcomes. This recent development indicates Lantheus’s ability to surpass revenue forecasts despite narrowly missing EPS estimates. Investors are closely monitoring these results for potential impacts on future performance.
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