UPDATE: Loewen Ondaatje McCutcheon Downgrades BioMimetic Therapeutics to Hold, Reiterates $7.50 PT

In a report published Wednesday, Loewen Ondaatje McCutcheon downgraded its rating on BioMimetic Therapeutics

from Buy to Hold, but reiterated its $7.50 price target. Loewen Ondaatje McCutcheon noted, “With BMTI trading within proximity of our 12-month price target of $7.50 per share, we have downgraded the shares to Hold (from Buy), reflecting a more balanced risk/reward profile.” BioMimetic Therapeutics closed on Tuesday at $6.94.