UPDATE: Jefferies & Company Reiterates Hold Rating, Lowers PT on Verenium Corporation

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In a report published Monday, Jefferies & Company reiterated its Hold rating on Verenium Corporation
VRNM
, but lowered its price target from $4.10 to $3.00. Jefferies noted, “We expect Verenium to remain range-bound into 1H13 until a consistent retrenchment in the company's cash burn is visible, coupled with successful launches of the next-generation products in its innovation pipeline. While the technology position appears under-appreciated, additional partnerships may be needed to materially shift the profile. We reiterate our Hold rating.” Verenium Corporation closed on Friday at $2.63.
Posted In: Analyst ColorPrice TargetReiterationAnalyst RatingsJefferies & Company
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