Cantor Fitzgerald Downgrades Helicos BioSciences (HLCS) to Hold, But Sees Company as Potential Acquisition Target

October 15, 2008 1:57 PM EDT

Cantor Fitzgerald downgrades Helicos BioSciences Corp (Nasdaq: HLCS) from Buy to Hold. Price target lowered to $1.25.

Cantor analyst says, "We are downgrading HLCS due to financial and commercialization risk. Despite Helicos BioSciences significantly advanced HeliScope genome analysis system's advantages and recently announced (and long awaited) guidance for system orders that match our original projections, the lack of guidance and visibility around revenue receipt and financing in a climate of severe uncertainty have changed the company's risk profile, in our view...That said, we think Helicos is an attractive acquisition target, particularly at its current market cap, and could be a good fit for several companies that have lost their market-leading positions in the genome analysis segment."

Helicos BioSciences Corporation (Helicos) is a life sciences company focused on genetic analysis technologies for the research, drug discovery and clinical diagnostics markets.

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