H.C. Wainwright Downgrades Juniper Pharmaceuticals (JNP) to Neutral
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H.C. Wainwright downgraded Juniper Pharmaceuticals (NASDAQ: JNP) from Buy to Neutral with a price target of $6.75. Analyst Ed Arce noted that after markets closed on August 17, Juniper announced in a terse release that the Phase 2b trial of its lead drug candidate, COL-1077 (10% lidocaine bioadhesive gel), failed to achieve its primary and secondary endpoints, and that based on these results, the company is discontinuing development of the product.
Shares of Juniper Pharmaceuticals closed at $5.75 yesterday.
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