Financial

Zacks Upgrades Osiris Therapeutics to Hold (OSIR)

By Mark Watkins

Osiris Therapeutics (NASDAQ:OSIR) was upgraded by Zacks from a “sell” rating to a “hold” rating in a report released on Tuesday, Market Beat.com reports.

According to Zacks, “Osiris’ second quarter 2015 results were better than expected. We are encouraged by the company’s efforts to grow the Biosurgery segment. Expanded sales force, improving Medicare and private reimbursement coverage should drive revenues. Meanwhile, we are positive on Osiris’ deals with Arthrex and Stryker for Cartiform and BIO4, respectively. We are also positive on the company’s sale of its ceMSC business which has not only brought in cash for Osiris in the form of an upfront payment but will also bring in royalties. However, the company’s dependence on a single segment for growth is concerning. Moreover, Osiris is evaluating Grafix for additional indications and disappointing data would have an adverse impact on the shares. “

Shares of Osiris Therapeutics (NASDAQ:OSIR) traded up 0.61% on Tuesday, hitting $18.19. 57,197 shares of the stock traded hands. The firm has a market cap of $626.45 million and a P/E ratio of 160.97. Osiris Therapeutics has a 52 week low of $12.65 and a 52 week high of $23.67. The stock has a 50-day moving average price of $17.74 and a 200 day moving average price of $18.38.

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