Deutsche Bank Downgrades Chelsea Therapeutics (CHTP) to Hold; Uncertainty & Risks Building

Deutsche Bank downgraded Chelsea Therapeutics (NASDAQ: CHTP) to Hold, price target cut from $9 to $4.

Deutsche analyst said, "Black Box warning on supine hypertension eliminates differentiationeven if Northera is approved...Since the complete response letter, we see greater clinical, regulatory, and commerical risks. We have shifted launch to 2014 and have increased our discount rate to 20% from 16% to reflect the greater risks. We await greater clarity from FDA discussions."

For an analyst ratings summary and ratings history on Chelsea Therapeutics click here. For more ratings news on Chelsea Therapeutics click here.

Shares of Chelsea Therapeutics closed at $3.67 yesterday.

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