| 2021-07-23 09:55:19|
MCRB, SAM… 09:55 07/23 07/23/21
Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Seres Therapeutics (MCRB) downgraded to Sell from Neutral at Goldman Sachs with analyst Chris Shibutani saying "disappointing" top line results for the company's SER-287 Phase 2b ECO-RESET study prompts the analyst to remove projections for the asset from the model. 2. Boston Beer (SAM) downgraded to Neutral from Buy at Goldman Sachs with analyst Bonnie Herzog saying the analyst is "very surprised by the magnitude of this quarter's miss," which she says came in well below expectations despite management's "consistently confident tone" as recently as May 18. 3. Domino's Pizza (DPZ) downgraded to Neutral from Overweight at JPMorgan with analyst John Ivankoe citing valuation for the downgrade, saying the current share price is "just too high." 4. Open Lending (LPRO) downgraded to Neutral from Buy at Goldman Sachs with analyst Matthew O'Neill citing valuation for the following the stock's recent outperformance. 5. Adverum Biotechnologies (ADVM) downgraded to Neutral from Buy at Goldman Sachs with analyst Graig Suvannavejh saying the news of additional cases of hypotony "comes as a disappointment," but the formal discontinuation of the company's efforts to further expand the potential utility of ADVM-022 beyond the initial wet AMD indication and into DME "does not come as a surprise" given that he previously removed a potential revenue contribution from the DME indication on the initial news of the SUSAR. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.