Gilford Securities Weighs in on Celsion's (CLSN) 'Wild and Crazy' Day
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Price: $1.96 --0%
Rating Summary:
5 Buy, 3 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 16 | New: 19
Rating Summary:
5 Buy, 3 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 16 | New: 19
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After a wild ride on Wednesday, shares of Celsion Corp (NASDAQ: CLSN) were whacked Thursday on a downgrade from Brean Capital. However, at least one sell-side bull remains.
Gilford Securities Keith Markey weighed in on the stock, specifically commenting on yesterday crazy day when trading was briefly halted due to a circuit breaker as volume surged and shares plunged to $6.17. When trading resumed, shares rebounded to $8.10.
"Did investors who had shorted CLSN cover their positions yesterday?," Markey rhetorically asks. "YES – one source indicates that the % of shares sold short dropped by 50%," he said.
Markey also indicated he spoke with Celsion's CEO, Michael Tardugno, Wednesday afternoon and was assured the Company had not released any information regarding its pivotal trial.
"Indeed, the data is still under analysis in preparation for a formal public announcement within the next couple of weeks. Until then, investors should know that any rumors about the results will only be speculation."
The firm maintained a Buy rating and $18 price target on CLSN.
Today's downgraded by Brean Capital noted "robust share price strength prior to a highly binary event in 1Q13 that, in our view, will define whether or not the company remains viable thereafter."
For an analyst ratings summary and ratings history on Celsion Corp click here. For more ratings news on Celsion Corp click here.
Shares of Celsion Corp closed at $8.10 yesterday.
Gilford Securities Keith Markey weighed in on the stock, specifically commenting on yesterday crazy day when trading was briefly halted due to a circuit breaker as volume surged and shares plunged to $6.17. When trading resumed, shares rebounded to $8.10.
"Did investors who had shorted CLSN cover their positions yesterday?," Markey rhetorically asks. "YES – one source indicates that the % of shares sold short dropped by 50%," he said.
Markey also indicated he spoke with Celsion's CEO, Michael Tardugno, Wednesday afternoon and was assured the Company had not released any information regarding its pivotal trial.
"Indeed, the data is still under analysis in preparation for a formal public announcement within the next couple of weeks. Until then, investors should know that any rumors about the results will only be speculation."
The firm maintained a Buy rating and $18 price target on CLSN.
Today's downgraded by Brean Capital noted "robust share price strength prior to a highly binary event in 1Q13 that, in our view, will define whether or not the company remains viable thereafter."
For an analyst ratings summary and ratings history on Celsion Corp click here. For more ratings news on Celsion Corp click here.
Shares of Celsion Corp closed at $8.10 yesterday.
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