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Fly News Breaks for March 4, 2020
OLLI, CDLX, UMRX, SWTX, OKTA
Mar 4, 2020 | 10:07 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Okta (OKTA) downgraded to Hold from Buy at Needham with analyst Alex Henderson continuing to believe Okta is one of the premier names in cloud security, but seeing limited upside to the shares near term. 2. SpringsWorks Therapeutics (SWTX) downgraded to Neutral from Buy at H.C. Wainwright with analyst Raghuram Selvaraju stating while he remains "enthused" about the company's positioning in the near-term, he believes the current share price fully accounts for positive outcomes on the three upcoming clinical data catalysts. 3. Unum Therapeutics (UMRX) downgraded to Neutral from Outperform at Wedbush with analyst David Nierengarten citing the discontinuation of ACTR707 and the company's focus on the development of BOXR1030. 4. Cardlytics (CDLX) downgraded to Hold from Buy at Craig-Hallum with analyst Jason Kreyer noting that some operational missteps combined with a rapidly deteriorating macro yielded a substantial miss relative to Q1 estimates. 5. Ollie's Bargain Outlet (OLLI) downgraded to Neutral from Buy at Roth Capital with analyst Jeremy Hamblin sating uncertainty and risk factors have increased for Ollie's over the past couple of months, shifting the risk/reward in the stock to a more balanced position that will likely keep it range bound for the time being. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
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