Why Did H.C. Wainwright Downgrade Diffusion Pharmaceuticals’ Stock?

Diffusion Pharmaceuticals (DFFN) received a Hold rating from H.C. Wainwright analyst Swayampakula Ramakanth today. The company’s shares closed last Monday at $0.66.

According to TipRanks.com, Ramakanth is a 4-star analyst with an average return of 7.3% and a 39.8% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Corvus Pharmaceuticals, Trillium Therapeutics, and Cellectar Biosciences.

Diffusion Pharmaceuticals has an analyst consensus of Hold.

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Based on Diffusion Pharmaceuticals’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $3.13 million. In comparison, last year the company had a GAAP net loss of $2.8 million.

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Diffusion Pharmaceuticals, Inc. is a clinical stage company which engages lead product candidate, transcrocetinate sodium, also known as trans sodium crocetinate, for use in those life threatening conditions in which cellular oxygen deprivation is the basis for significant unmet medical needs. The company was founded by David G. Kalergis and John L. Gainer in 2001 and is headquartered in Charlottesville, VA.

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