Piper Jaffray Downgrades Cytori Therapeutics (CYTX) to Sell
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Piper Jaffray downgrades Cytori Therapeutics, Inc. (Nasdaq: CYTX) from Neutral to Sell with a $3 price target, citing dilutive equity commitment.
The firm notes this morning, CYTX said it will sell up to 7.15 million shares at a 13% discount over 1-year period. The firm said this source of lingering dilution will likely weigh on shares. The firm also believes U.S. regulatory headwinds will make cardiac approval challenging.
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