BofA analyst Jason Gerberry double downgraded Applied Molecular Transport to Underperform from Buy with a price target of 50c, down from $5. The Phase 2 miss in ulcerative colitis has removed meaningful upside potential from Applied Molecular’s catalyst path, Gerberry tells investors in a research note. The analyst is now more cautious on stock’s risk/reward as the company reprioritizes its pipeline portfolio. While any potential AMT-101 deal could lead to a near-term cash infusion, ultimate program upside is limited by the risk profile of the asset, given pouchitis is a challenging indication, contends Gerberry.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on AMTI:
- SVB cuts Applied Molecular Transport to Market Perform, lowers target to $2
- Applied Molecular downgraded to Market Perform from Outperform at SVB
- Street Wrap: Today’s Top Upgrades, Downgrades, Initiations
- Applied Molecular Transport downgraded to Market Perform from Outperform at JMP Securities
- Applied Molecular Transport downgraded to Market Perform at JMP Securities
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue