Dawson James Downgrades Check-Cap (CHEK) to Neutral
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Dawson James analyst Jason Kolbert downgraded Check-Cap (NASDAQ: CHEK) from Buy to Neutral.
The analyst commented, "Check-Cap’s stock price has exceeded our price target of $2.00, so we must either raise our valuation or lower our rating. We see no good reason to raise our valuation at this time as the U.S. Pivotal study has not yet begun. We additionally expect that the company is likely to raise capital prior to C-Scan completing the pivotal program."
Shares of Check-Cap closed at $2.39 yesterday.
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