Pardes Biosciences downgraded to Hold from Buy at Jefferies

Jefferies analyst Dennis Ding downgraded Pardes Biosciences to Hold from Buy with a $1.25 price target after the company reported that pomotrelvir did not meet the primary endpoint measured by the proportion of participants below the limit of detection for infectious SARS-CoV-2 on day 3 of treatment with pomotrelvir versus placebo in its Phase 2 clinical trial.