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UPDATE: Jefferies Cuts PT to $3.50 on Unilife Corporation on Deal Delays

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Jefferies maintained Unilife Corporation (NASDAQ: UNIS) with a Buy rating and lowered the price target from $5.00 to $3.50.

Jefferies commented, "Unilife's 2Q results did little to sway the balance of the company's outlook. The company reiterated that more than a dozen deals will contribute revs in CY13, but details were light and the CEO was noticeably absent from the call. Meanwhile, cash burn is high and despite recent equity raises dry powder is limited. It is tenuous but we stay at Buy on the promise of a substantial ramp should deals mature."

Unilife Corporation closed at $2.28 on Monday.

Latest Ratings for UNIS

DateFirmActionFromTo
Mar 2016Piper JaffrayDowngradesOverweightNeutral
Jan 2016Griffin SecuritiesUpgradesBuy
Sep 2015Griffin SecuritiesUpgradesBuy

View More Analyst Ratings for UNIS
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Posted-In: JefferiesAnalyst Color Price Target Analyst Ratings

 

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