LGVN: Updating Model Following 2Q Results
We are maintaining our Buy rating and $20 (peak sales-based) price target on Longeveron (NASDAQ: LGVN). The company reported 2Q results on Friday, with 2Q operating expenses of $4.4M versus our $5.4M estimate. 2Q revenue of $0.5M exceeded our $0.2M estimate, on higher clinical trial revenue than we had modeled.
