Jefferies Downgrades Ampio Pharmaceuticals (AMPE) to Hold
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Rating Summary:
4 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 8 | New: 13
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Jefferies downgraded Ampio Pharmaceuticals (NYSE: AMPE) from Buy to Hold with a price target of $5.00 (from $14.00).
Analyst Biren Amin said, "We are downgrading AMPE shares to a Hold from a Buy on a lack of confidence in the direction of the Ampion program. The company announced that the PIII STEP trial observed a significant setback when 73% of Ampion clinical supply in STEP may have been exposed to temperatures below 15 degrees Celsius. AMPE expects to disclose full efficacy data upon discussing w/ the FDA, which is anticipated in 3-4 weeks."
The cut FY 2014 EPS from ($0.70) to ($0.75) and FY 2015 EPS from ($0.58) to ($0.69).
For an analyst ratings summary and ratings history on Ampio Pharmaceuticals click here. For more ratings news on Ampio Pharmaceuticals click here.
Shares of Ampio Pharmaceuticals closed at $5.66 yesterday.
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