UPDATE: Canaccord Genuity Downgrades Vical Following Allovectin Failure
In a report published Tuesday, Canaccord Genuity analyst Ritu Baral downgraded Vical (NASDAQ: VICL) from Buy to Hold, and lowered the price target from $7.00 to $1.40.
In the report, Canaccord Genuity noted, “Lowering to HOLD, $1.40 target on Allovectin Ph3 failure and program halt. We still see blockbuster potential for the Astellas-partnered CMV franchise (ASP0113, f.k.a. CymVectin; TransVax) given unmet need. Our $1.40 target is based on a pNPV analysis.”
Vical closed on Monday at $1.53.
Latest Ratings for VICL
|Jun 2015||Roth Capital||Downgrades||Buy||Neutral|
|Jun 2015||HC Wainwright||Initiates Coverage on||Buy|
|Jun 2015||Roth Capital||Initiates Coverage on||Buy|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.