Maxim Group analyst Jason McCarthy downgraded Cytori Therapeutics Inc (NASDAQ: CYTX) to Hold today. The company’s shares closed yesterday at $0.40, close to its 52-week low of $0.37.
McCarthy commented:
“We are downgrading CYTX shares to and removing our price target (prior $3). Our fundamental view around the company’s key programs of 0918 (liposomal doxorubicin) and cell therapy (scleroderma, stress urinary incontinence) are unchanged, but capital constraints remain, and are an increasing concern.”
According to TipRanks.com, McCarthy is a 5-star analyst with an average return of 12.0% and a 44.3% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, ContraVir Pharmaceuticals Inc, and Sonoma Pharmaceuticals Inc.
Cytori Therapeutics Inc has an analyst consensus of Moderate Buy, with a price target consensus of $6.
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Based on Cytori Therapeutics Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $3.66 million. In comparison, last year the company had a GAAP net loss of $6.05 million.
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Cytori Therapeutics, Inc. is a late stage cell therapy company which engages in the development of autologous cell therapies from adipose tissue, using its proprietary technology, to treat a variety of medical conditions. It offers the Cytori Nanomedicine, Cytori Cell Therapy, and other clinical trials.
