Wedbush Reiterates Underperform On Regado Following 2Q14 Financials Release
Analyst Liana Moussatos of Wedbush yesterday reiterated an Underperform rating on Regado Biosciences (NASDAQ:RGDO), with a $2 price target, after the company released its second-quarter financials.
Moussatos notes: “Regado reported an EPS (loss) of $(0.63), which was below our/consensus of $(0.49)/$(0.47) due to higher-than- anticipated operating expenses. Regado ended Q2:14 with $72.7MM in cash and cash equivalents. With the clinical hold on REGULATE-PCI, we have reduced our R&D expense projection from Q3 onward and have incorporated Q2 financials into our model. Our cash runway projection lasts into Q1 2016.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Liana Moussatos has a total average return of 55.8% and a 67.4% success rate. Moussatos has a -32.4% average return when recommending RGDO, and is ranked #13 out of 3255 analysts.