Aravive downgraded to Neutral from Overweight at Cantor Fitzgerald

Cantor Fitzgerald analyst Louise Chen downgraded Aravive to Neutral from Overweight with a price target of 25c, down from $18, post the Q2 report. The company noted that in order to preserve cash, it has terminated its Phase 1b/Phase 2 trials of batiraxcept in clear cell renal cell carcinoma and pancreatic adenocarcinoma unless it raises more capital, the analyst tells investors in a research note. If it does not raise capital or engage a strategic partner in the next several weeks, Aravive will be forced to cease operations, the firm points out.