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Fly News Breaks for January 11, 2019
PETX
Jan 11, 2019 | 05:05 EDT
Stifel analyst Jonathan Block downgraded Aratana Therapeutics to Hold and lowered his price target for the shares to $5 from $8. While the company is seeing ongoing Entyce adoption, little progress has been made on lengthening the drug's duration, Block tells investors in a research note. He lowered his 2019-2024 Entyce estimates "materially," and when coupled with a "modest" pipeline, recent COO departure and a key shareholder reducing its position, the analyst is moving to the sidelines.
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