Tekmira (TKMR) Stock Lower After Downgrade

Shares of Tekmira Pharmaceuticals Corp (TKMR) are down 2.69% in mid-day trading after Glaucus Research downgraded its rating to “Strong Sell” recommendation, citing valuation concerns.

“Tekmira is hugely overvalued and its share price is poised to collapse,” Glaucus Research wrote [via Benzinga] in a note to investors on Monday. “Tekmira’s RNAi technology is unproven, the FDA halted TKM Ebola’s Phase I trial because of safety concerns, and despite limited use it appears that the drug is unpopular among treating physicians.”

Glaucus Research speculates the drug is “highly likely” to fail FDA inspections for approval.

The firm set its 12-month base case estimate between $7 to $10, implying 39% to 57% expected downside from the name’s current pps.

Tekmira Pharmaceuticals shares recently declined $0.45 to $16.31. The stock is up more than 105% over the past 12 months, and 105% year-to-date.

Be the first to comment

Leave a Reply

Your email address will not be published.


*