The Waltham, MA-based biopharmaceutical company is focused on developing therapeutics for patients with osteoporosis and other serious endocrine-mediated diseases.
The new price target reflects lower biotechnology valuations in the current market environment.
The company's Food and Drug Administration New Drug Application for its osteoporosis drug abaloparatide-SC is expected by the end of this quarter, which the firm believes is overhanging the shares.
Finding a partner for the abaloparatide-SC drug in Europe will also remove an overhang on the shares, Cantor Fitzgerald added.
Additionally, Radius Health reported a wider-than-expected loss in the 2015 fourth quarter last week. The company posted a loss of 77 cents per share, wider than the firm's projection for a loss of 61 cents per share. It has yet to generate revenue.
Shares of Radius Health are down 0.1% to $29.97 at the start of trading on Monday.RDUS data by YCharts