PAVmed downgraded to Neutral from Overweight at Cantor Fitzgerald

Cantor Fitzgerald analyst Ross Osborn downgraded PAVmed (PAVM) to Neutral from Overweight with a price target of $1.50, down from $4. The company discontinued its pipeline of products other than its subsidiary, Veris, emphasizing the value lies with Overweight-rated Lucid Diagnostics (LUCD), Osborn tells investors in a research note. The analyst thinks investors would allocate capital to Lucid over PAVmed given its more favorable near-term prospects.