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Leerink Swann Cut Cellular Dynamics (ICEL) to Market Perform on Lack of Visibility

November 14, 2013 8:08 AM EST Send to a Friend
Get Alerts ICEL Hot Sheet
Price: $11.12 -2.28%

Rating Summary:
    3 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 10 | Down: 9 | New: 0
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Leerink Swann downgraded Cellular Dynamics (NASDAQ: ICEL) from Outperform to Market Perform with a price target of $15.00 (unchanged). Analyst Dan Leonard thinks visibility is lacking.

"We've reduced our forward revenue estimates for ICEL following a 3Q top-line result that fell slightly short of our forecast. We continue to believe ICEL's induced pluripotent stem cells (iPSCs) will be increasingly adopted by biopharmaceutical companies for compound screening and toxicity testing; however, absent visibility on contract wins in stem cell banking (ex. CIRM) and therapeutic partnerships, which comprise ~17.5% of our new 2014 revenue forecast (down from 28% previously), we believe Street numbers have more downside than upside," said Leonard.

For an analyst ratings summary and ratings history on Cellular Dynamics click here. For more ratings news on Cellular Dynamics click here.

Shares of Cellular Dynamics closed at $17.23 yesterday.




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