By Jeff Rose
Zacks Investment Research lowered shares of Osiris Therapeutics, Inc. (NASDAQ:OSIR) from a hold rating to a sell rating in a research report report published on Wednesday morning, Analyst Ratings Net 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 analysts have also recently weighed in on the company. Piper Jaffray reissued a buy rating on shares of Osiris Therapeutics in a report on Monday, November 30th. Brean Capital cut Osiris Therapeutics from a hold rating to a sell rating and set a $8.00 price objective for the company. in a report on Tuesday, November 17th.
