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Fly News Breaks for November 17, 2015
OSIR
Nov 17, 2015 | 06:08 EDT
Brean Capital analyst Jason Wittes downgraded Osiris Therapeutics to Sell with an $8 price target. The stock closed yesterday down 33c to $13.98. The company's quarterly filing shows evidence of "aggressive accounting, particularly in regard to revenue recognition," Wittes tells investors in a research note. There are three restatements from distributor relationships, two in addition to the initial one management noted on the earnings conference call, the analyst contends.
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