Oppenheimer Hosts 36th Healthcare Conference, Lowers Elastic Price Target to $85
Oppenheimer hosted its 36th Annual Healthcare Life Sciences Conference, where Keros Therapeutics CEO outlined initiation of a DMD trial for rinvatercept and a $200m upfront Takeda partnership with over $1.1bn in milestones. The firm also cut its price target on Elastic to $85 from $100 while retaining an Outperform rating.
1. Annual Healthcare Conference
Oppenheimer’s 36th Annual Healthcare Life Sciences Conference featured presentations by industry leaders, including Keros Therapeutics CEO Jasbir Seehra. Highlights included plans to start a Duchenne muscular dystrophy trial for rinvatercept this quarter and discussions on a potential Phase II ALS program, underlining Oppenheimer’s role in facilitating biotech capital markets and research exposure.
2. Elastic Price Target Adjustment
Oppenheimer’s equity research team revised Elastic’s price target down from $100 to $85 while maintaining an Outperform rating. Analysts cited solid Q3 results and raised FY26 guidance but view Q4 estimates as conservative, suggesting potential upside in Elastic’s consumption metrics and commitment trends.