Leerink Partners Downgrades Diplomat Pharmacy (DPLO) to Market Perform
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
Leerink Partners downgraded Diplomat Pharmacy (NYSE: DPLO) from Outperform to Market Perform with a price target of $18.00 (from $35.00).
Analyst David Larsen commented, "Yesterday afternoon DPLO reduced its outlook for 2016 and provided a preliminary outlook for 2017 that was well below expectations. As a result we are reducing our forward estimates and we downgrade the stock to Market Perform. DPLO is facing significant headwinds from "Direct and Indirect Remuneration" (DIR) fees from the PBMs that had not been previously expected, Hepatitis C volumes, and while price inflation was ~7% in the quarter, we believe that there is risk to negative revisions to inflation assumptions in 2017. We downgrade the stock to Market Perform and we reduce our PT to $18 (from $35)."
Shares of Diplomat Pharmacy closed at $22.38 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Pivotal Research Upgrades Flowers Foods (FLO) to Hold
- Jefferies Cuts Price Target on GTx, Inc. (GTXI) to $7 Following Enobosarm Trial Results
- Finisar (FNSR) PT Raised to $44 at Needham & Company, Estimates Raised Sharply
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Downgrades
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!