UPDATE - Citi Downgrades SenoRx (SENO) to Hold Based on BCR Deal
SENO Hot Sheet
Rating Summary:0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
UPDATE - Citi downgrades SenoRx Inc (Nasdaq: SENO) from Buy to Hold. Price target increased from $10 to $11.
Citi analyst says, "BCR Acquisition Overshadows Weak 1Q10 — This was a weak quarter for SENO as fewer patient visits for mammography in the market translated to fewer biopsy procedures. In addition, Contura adoption has slowed considerably with revs down 22% Q/Q. Mgmt attributed the Contura weakness to the recent ASTRO guidelines for APBI (accelerated partial breast irradiation), but we think HOLX’s recent MammoSite MLB launch, competitor pricing pressure, and lack of physician acceptance for the procedure also played important roles. We don’t believe these issues will abate in the near term, but they are clearly overshadowed now that BCR is set to acquire SENO for $11 in cash."
To see all the upgrades/downgrades on shares of SENO, visit our Analyst Ratings page.
Citi analyst says, "BCR Acquisition Overshadows Weak 1Q10 — This was a weak quarter for SENO as fewer patient visits for mammography in the market translated to fewer biopsy procedures. In addition, Contura adoption has slowed considerably with revs down 22% Q/Q. Mgmt attributed the Contura weakness to the recent ASTRO guidelines for APBI (accelerated partial breast irradiation), but we think HOLX’s recent MammoSite MLB launch, competitor pricing pressure, and lack of physician acceptance for the procedure also played important roles. We don’t believe these issues will abate in the near term, but they are clearly overshadowed now that BCR is set to acquire SENO for $11 in cash."
To see all the upgrades/downgrades on shares of SENO, visit our Analyst Ratings page.
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