Roth Capital Downgrades Electro-Optical Sciences (MELA) to Hold; Valuation Call
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Roth Capital downgrades Electro-Optical Sciences (Nasdaq: MELA) from Buy to Hold. Price target increased from $9 to $12.
To see more analyst ratings on MELA Click Here.
Electro-Optical Sciences, Inc., a medical device company, focuses on the design, development, and commercialization of a non-invasive, point-of-care instrument to assist in the early diagnosis of melanoma in the United States and internationally.
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Comments
MELA
David, How did you come up with a specific date of December 9th?
MELA
You bet they want in. WIth FDA approval coming on December 9th, they want to drive this down to pick it up cheap. This is a hot one and Roth Capital knows that MELA is going to get approval. But then again might as well add to your position.
mela
downgrade? that is not just a red herring rating. it is a criminal manufactured rating statement...
MELA
Downgrade? This is a good sign! It means they no doubt want in on MELA cheap
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MELA
Franz on Nov 11, 2009 02:08 PMThey submitted the Pre-market Approval Application fro Mela-Find on June 3, 2009. Upon acceptance by the FDA, there is a 180 day approval window - hence the December 9 date - although i doubt this is the exact date, sometime within that timeframe some sort of announcement will be made.