Maxim Group cut shares of Cytori Therapeutics (NASDAQ:CYTX) from a buy rating to a hold rating in a report published on Wednesday morning, Marketbeat Ratings reports.
“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.”,” Maxim Group’s analyst wrote.
Several other research analysts have also weighed in on CYTX. HC Wainwright lowered their price target on Cytori Therapeutics from $6.00 to $5.00 and set a buy rating on the stock in a research report on Wednesday. ValuEngine raised Cytori Therapeutics from a hold rating to a buy rating in a research report on Monday, July 2nd. Finally, Zacks Investment Research raised Cytori Therapeutics from a hold rating to a buy rating and set a $0.75 target price on the stock in a report on Tuesday, July 31st. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $10.56.
NASDAQ:CYTX opened at $0.33 on Wednesday. The company has a market cap of $2.40 million, a price-to-earnings ratio of -0.05 and a beta of 2.72. Cytori Therapeutics has a twelve month low of $0.31 and a twelve month high of $8.70.
Cytori Therapeutics (NASDAQ:CYTX) last posted its quarterly earnings results on Tuesday, August 14th. The biotechnology company reported ($0.59) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.50) by ($0.09). The company had revenue of $1.56 million for the quarter, compared to analyst estimates of $2.50 million. Cytori Therapeutics had a negative return on equity of 190.35% and a negative net margin of 428.14%. sell-side analysts forecast that Cytori Therapeutics will post -1.88 earnings per share for the current fiscal year.
About Cytori Therapeutics
Cytori Therapeutics, Inc, a therapeutics company, together with its subsidiaries, develops regenerative and oncologic therapies from its proprietary cell therapy and nanoparticle platforms for various medical conditions. Its lead drug candidate, ATI-0918, is a generic version of pegylated liposomal encapsulated doxorubicin, which is in Phase III clinical trial and used for various cancer types.
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