UPDATE: Oppenheimer Downgrades Macrocure Ltd (MCUR) to Perform

Oppenheimer downgraded Macrocure Ltd (NASDAQ: MCUR) from Outperform to Perform and removed its price target (prior $20.00). The change follows news venous leg ulcer study is not expected to meet its primary endpoint.

Analyst Steven Lichtman said, "MCUR will present data from its diabetic foot ulcer (DFU) trial in October. Historically, DFU trials have had more success than VLU. Two successful trials are required for product approval, however, and therefore a third trial will likely be needed given yesterday's announcement. MCUR has enough cash for another trial and DFU trial is still a potential positive. With regulatory pathway visibility reduced, we move to Perform, but could get more constructive on increased clarity."

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

Shares of Macrocure Ltd closed at $12.05 yesterday.

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