Roth MKM analyst Jonathan Aschoff downgraded Cyclacel Pharmaceuticals (CYCC) to Neutral from Buy with a price target of $1, down from $11. The stock in afternoon trading is down 21% to $1.13. The company reported two Phase 2 solid tumor patients with stable disease among six efficacy evaluable patients, and the negative stock reaction today is due to Cyclacel requiring three or more responses to justify continued development among a total of 12 solid tumor patients, the analyst tells investors in a research note. Roth believes today’s results are “not encouraging, especially given that patients had favorable genetics for response.”
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CYCC:
- Cyclacel Pharmaceuticals downgraded to Neutral from Buy at Roth MKM
- Cyclacel reports clinical data from Phase 2 study of oral fadraciclib
- Biotech Alert: Searches spiking for these stocks today
- Cyclacel Pharmaceuticals files to sell common stock, warrants, no amount given
- Cyclacel completes enrollment in Cohort 8 of Phase 2 study of fadraciclib