Cantor Fitzgerald Downgrades Cleveland BioLabs to Hold (CBLI)
Cleveland BioLabs (NASDAQ:CBLI) was downgraded by equities research analysts at Cantor Fitzgerald from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, TheFlyOnTheWall.com reports. They currently have a $2.00 price target on the stock, down from their previous price target of $4.00. Cantor Fitzgerald’s target price points to a potential upside of 189.90% from the stock’s previous close.
Cleveland BioLabs (NASDAQ:CBLI) traded down 8.01% during mid-day trading on Friday, hitting $0.6899. 2,341,766 shares of the company’s stock traded hands. Cleveland BioLabs has a 52 week low of $0.63 and a 52 week high of $2.28. The stock has a 50-day moving average of $1.14 and a 200-day moving average of $1.46. The company’s market cap is $31.2 million.
Cleveland BioLabs (NASDAQ:CBLI) last announced its earnings results on Wednesday, November 6th. The company reported ($0.09) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.14) by $0.05. The company had revenue of $1.60 million for the quarter, compared to the consensus estimate of $1.61 million. Analysts expect that Cleveland BioLabs will post $-0.49 EPS for the current fiscal year.
Separately, analysts at Oppenheimer downgraded shares of Cleveland BioLabs from an “outperform” rating to a “market perform” rating in a research note to investors on Friday. They now have a $1.13 price target on the stock, up previously from $0.75.
Cleveland BioLabs, Inc (NASDAQ:CBLI), incorporated on June 5 2003, is a biotechnology company focused on developing biodefense, tissue protection and cancer treatment drugs based on the concept of modulation of cell death for therapeutic benefit.
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