JMP Securities Downgrades Gamida Cell Ltd. (GMDA) to Market Perform, 'Stepping to the sidelines as Gamida explores strategic alternatives'

JMP Securities analyst Jason N. Butler downgraded Gamida Cell Ltd. (NASDAQ: GMDA) from Market Outperform to Market Perform.

The analyst comments "Stepping to the sidelines as Gamida explores strategic alternatives; we lower our rating to Market Perform from Market Outperform. This morning, Gamida reiterated that it is pursuing strategic alternatives to maximize the commercial opportunity for its lead asset Omisirge and for its shareholders, focusing on “an asset sale, merger or other strategic transaction”. While we acknowledge the early success that has been achieved with Omisirge, commercial efforts remain resource constrained. Until we have greater clarity on the outcome of this strategic process, we believe the stock is fairly valued at current levels, reflecting the uncertainty of commercial and financial resources. Our valuation for Gamida Cell shares is derived through a risk-adjusted, DCF analysis of Omisirge sales"

For an analyst ratings summary and ratings history on Gamida Cell Ltd. click here. For more ratings news on Gamida Cell Ltd. click here.

Shares of Gamida Cell Ltd. closed at $0.36 yesterday.

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