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.
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Published first on TheFly
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Read More on PAVM:
- PAVmed price target lowered to $1.50 from $5.00 at Lake Street
- PAVmed, subsidiaries implement workforce reduction of roughly 20%
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