Fly Intel: Top five analyst downgrades

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Catabasis downgraded to Neutral from Buy at H.C. Wainwright with analyst Joseph Pantginis saying that the PolarisDMD study with edasalonexent in patients with Duchenne muscular dystrophy not meeting its primary or secondary endpoints is a "major hit" to the overall thesis for Catabasis as the company's clinical trials and plans were almost exclusively based on testing edasalonexent drug in a risky indication. 2. Flutter Entertainment (PDYPY) cut to Sector Perform from Outperform at RBC Capital with analyst Christine Zhou saying that while she is downgrading the stock after a "great run," she will watch for additional catalysts in the future. 3. SAP (SAP) downgraded to In Line from Outperform at Evercore ISI. 4. Waste Management (WM) downgraded to Underperform from Neutral at BofA with analyst Michael Feniger saying he views Waste Management as "most vulnerable to a rotation" amongst its peers given its higher urban mix, challenging comps and synergy expectations. 5. Umpqua Holdings (UMPQ) downgraded to Underweight from Neutral at JPMorgan with analyst Steven Alexopoulos saying the Q3 earnings beat stemmed from a reserve release and surge in mortgage banking, and neither of these is likely to remain sustainable at the Q3 level. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.