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Fly News Breaks for April 25, 2016
TROV
Apr 25, 2016 | 10:33 EDT
As previously reported, Cantor Fitzgerald downgraded Trovagene to Hold from Buy and analyst Bryan Brokmeier lowered his price target on the shares to $5 from $9 as he views the loss of Chief Commercial Officer Matt Posard as a significant negative that creates near-term risks for the company. The completion of the CEO search, resulting in the hiring of Bill Welch, is a positive, but several senior members of the company's commercialization team that joined with Posard from Illumina (ILMN) may also leave with him, said Brokmeier.
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