What Made Cantor Fitzgerald Downgrade Vital Therapies’ Stock?


Cantor Fitzgerald analyst William Tanner downgraded Vital Therapies (NASDAQ: VTL) to Hold today and set a price target of $0.50. The company’s shares closed yesterday at $6.30.

Tanner commented:

“: We are downgrading our rating on VTL shares from and establishing a new PT of $0.50 from $18. We had believed learnings from a post-hoc analysis of the VTL-208 Phase 2 study that were incorporated into the VTL-308 trial design could bias the outcome in a positive way. VTL has provided no specific details of the VTL-308 results, but disclosure that the trial failed to meet the primary and secondary endpoints and that development would cease is adequately informative. The company also announced that it would pursue strategic options, which we suppose could include a merger with a company seeking a U.S. public listing.”

According to TipRanks.com, Tanner is a 3-star analyst with an average return of 4.2% and a 49.2% success rate. Tanner covers the Healthcare sector, focusing on stocks such as Intra-Cellular Therapies, Supernus Pharmaceuticals, and Aquinox Pharmaceuticals.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Vital Therapies with a $18 average price target, which is a 185.7% upside from current levels. In a report released today, William Blair also downgraded the stock to Hold.

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The company has a one-year high of $9.75 and a one-year low of $3.85. Currently, Vital Therapies has an average volume of 363.1K.

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Vital Therapies, Inc. operates as a biotherapeutic company, which develops a human hepatic cell-based system for the treatment of acute forms of liver failure. Its product candidate, ELAD System, is a human cell-based bio-artificial liver support system that operates outside the body or extracorporeal.

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