By Mark Watkins
Osiris Therapeutics, Inc. (NASDAQ:OSIR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday, MarketBeat reports.
According to Zacks, “Osiris’ third quarter loss was wider-than-expected. The company also said that certain factors impacted third quarter revenues. Although we are encouraged by Osiris’ efforts to grow the Biosurgery segment, 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. 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. Expanded sales force, improving Medicare and private reimbursement coverage should drive revenues.”
Several other research analysts have also recently issued reports on OSIR. Brean Capital started coverage on shares of Osiris Therapeutics in a report on Thursday, October 1st. They set a “hold” rating for the company. Piper Jaffray reissued a “buy” rating and set a $28.00 target price on shares of Osiris Therapeutics in a report on Thursday, November 19th.
