Oppenheimer, BMO, Merriman, Needham Downgrade Poinard (PARD) Following Negative Picoplatin Data

Following news this morning that a Phase III study of Poniard Pharma's (Nasdaq: PARD) picoplatin did not meet its survival endpoint, we have numerous analysts out downgrading the stock. Shares have tumbled more than 77% today.

• Merriman Curhan Ford downgraded the stock from Buy to Neutral.
  
• Oppenheimer downgraded PARD from Outperform to Market Perform, also dropping its $10 price target.
  
• BMO Capital downgraded Poinard from Speculative Outperform to Market Perform, also slashing its price target from $14 to $2.
  
• Needham downgraded the stock from Buy to Hold.

Visit our Analyst Ratings page to see all the upgrades/downgrades on Poinard following today's sharp move lower.

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Needham & Company, BMO Capital, Merriman Curhan Ford, EIM Group

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