Cantor Fitzgerald Downgrades Rosetta Genomics (ROSG) to Hold; Higher Execution Risk
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Cantor Fitzgerald downgrades Rosetta Genomics Ltd. (Nasdaq: ROSG) from Buy to Hold. Price target slashes from $11 to $3.
Cantor analyst says, "Rosetta announced that Mr. Avniel will step-down as CEO of Rosetta Genomics to lead Rosetta Green, the company's agro/biofuels division, a move that we believe clouds the company's outlook. We are reducing our rating to HOLD from BUY and our price target from $11 to $3 due to execution risk. Further, management guided away from its 2009 exclusive focus on miRscreen colon development toward expanding its discovery pipeline to include additional cancer diagnostics...We think Rosetta's underlying technology assets provide support to the stock price for investors with a long-term view. We believe there is a higher likelihood of the company being acquired than major pharma partnering and that the current strategy could delay monetizing Rosetta's technology assets."
To see more analyst ratings on ROSG Click Here.
Rosetta Genomics Ltd. develops microRNA-based diagnostic and therapeutic products in Israel. MicroRNAs are naturally expressed, or produced, using instructions encoded in DNA and are used in regulating protein production.
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