ARMO BioSciences (ARMO) Rating Lowered to Hold at Jefferies Financial Group

ARMO BioSciences (NASDAQ:ARMO) was downgraded by research analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a report issued on Wednesday, The Fly reports.

ARMO has been the subject of a number of other reports. ValuEngine upgraded ARMO BioSciences from a “sell” rating to a “hold” rating in a research note on Wednesday, May 2nd. Zacks Investment Research upgraded ARMO BioSciences from a “sell” rating to a “hold” rating in a research note on Monday, June 4th. Leerink Swann reiterated a “market perform” rating on shares of ARMO BioSciences in a research note on Tuesday, February 20th. BMO Capital Markets downgraded ARMO BioSciences from an “outperform” rating to a “market perform” rating and set a $75.00 price target for the company. in a research note on Thursday, May 10th. Finally, Robert W. Baird downgraded ARMO BioSciences from an “outperform” rating to a “neutral” rating and set a $67.00 price target for the company. in a research note on Thursday, May 10th. Six equities research analysts have rated the stock with a hold rating, ARMO BioSciences currently has a consensus rating of “Hold” and a consensus price target of $63.25.

Shares of ARMO BioSciences opened at $49.97 on Wednesday, Marketbeat.com reports. The stock has a market cap of $1.52 billion and a PE ratio of -1.75. ARMO BioSciences has a 1-year low of $25.10 and a 1-year high of $57.19.

ARMO BioSciences (NASDAQ:ARMO) last announced its earnings results on Monday, April 2nd. The company reported ($9.62) earnings per share for the quarter, missing the consensus estimate of ($0.45) by ($9.17). sell-side analysts predict that ARMO BioSciences will post -2.34 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of ARMO. American International Group Inc. acquired a new position in ARMO BioSciences in the first quarter valued at approximately $164,000. The Manufacturers Life Insurance Company acquired a new position in ARMO BioSciences in the first quarter valued at approximately $188,000. Rhumbline Advisers acquired a new position in ARMO BioSciences in the first quarter valued at approximately $227,000. New York State Common Retirement Fund acquired a new position in ARMO BioSciences in the first quarter valued at approximately $251,000. Finally, California State Teachers Retirement System acquired a new position in ARMO BioSciences in the first quarter valued at approximately $390,000. Institutional investors own 40.94% of the company’s stock.

ARMO BioSciences Company Profile

ARMO BioSciences, Inc, an immuno-oncology company, develops a pipeline of novel product candidates that activate the immune system of cancer patients to recognize and eradicate tumors in the United States. Its lead product candidate is AM0010, a long acting form of human interleukin-10 that is in Phase III randomized pivotal clinical trial for the treatment of pancreatic ductal adenocarcinoma.

The Fly

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