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Investing.com - Leerink Partners lowered its price target on Lantheus Holdings (NASDAQ:LNTH) to $99.00 from $134.00 on Thursday, while maintaining an Outperform rating on the stock. According to InvestingPro data, analyst targets range from $63 to $130, with the stock currently trading at $56.14, suggesting significant upside potential despite recent challenges.
The price target reduction follows Lantheus’ disappointing second-quarter 2025 financial results, with Leerink citing intensifying competitive headwinds to the company’s Pylarify franchise as a key concern. Despite these challenges, InvestingPro analysis shows the company maintains strong financial health with a "GREAT" overall score and robust liquidity, as evidenced by a current ratio of 4.29.
Lantheus management significantly reduced its fiscal year 2025 guidance, now projecting total revenues of $1.475-$1.51 billion, down from previous estimates of $1.550-$1.585 billion, representing approximately a 5% cut at the midpoint.
The company also lowered its adjusted earnings per share guidance to $5.50-$5.70 from $6.60-$6.70, a reduction of about 16% at the midpoint, with management expecting continued sequential revenue declines for Pylarify amid further pricing pressure in the second half of 2025.
Leerink has revised its peak sales assumptions for Pylarify, now expecting the product to peak in fiscal year 2025 at approximately $970 million, while reducing its long-term projections for 2029 Pylarify revenue from about $1.4 billion to approximately $900 million.
In other recent news, Lantheus Holdings reported its second-quarter 2025 earnings, which fell short of forecasts. The company posted an adjusted earnings per share (EPS) of $1.57, missing the anticipated $1.67, while revenue came in at $378 million, below the expected $389.14 million. This earnings miss led to a series of analyst actions. Truist Securities downgraded Lantheus from Buy to Hold, citing concerns about the performance of its PYLARIFY product and slashed its price target from $111.00 to $63.00. Similarly, Goldman Sachs lowered its price target for the company to $110.00 from $140.00, maintaining a Buy rating, after Lantheus reduced its fiscal year 2025 guidance by approximately 10%. JMP Securities also reduced its price target to $73.00 from $112.00, maintaining a Market Outperform rating, due to competitive pricing pressures. These developments indicate a challenging period for Lantheus as it navigates product performance issues and competitive market conditions.
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