Zivo Bioscience price target lowered to $6 from $9 at Maxim

Maxim analyst Anthony Vendetti lowered the firm’s price target on Zivo Bioscience to $6 from $9 but keeps a Buy rating on the shares. The analyst is citing the company’s disappointing results for a four-month study performed by a third party on behalf of a potential partner, which included a 42-day coccidiosis trial in broiler chickens. The firm added however that in spite of the negative study results, Zivo’s potential partner company remains interested in the efficacy of the novel immune-modulating biologic, and pending positive results from the second study, Zivo will likely try to secure a development and license agreement.