Notable Downgrades: Cardiovascular Systems (CSII), Nabors (NBR), Exact Sciences (EXAS), SunEdison (SUNE)

Analysts at Needham downgraded Cardiovascular Systems Inc. (CSII) from ‘Strong Buy’ to ‘Buy’ in a research report issued to clients on Thursday.

The target price for CSII is lowered from $37 to $18.

Shares of the $440.76 million market cap company are down 33.43% year-over-year and 44.71% year-to-date.

Cardiovascular Systems Inc., currently with a median Wall Street price target of $43.63 and a high target of $50, dropped $3.06 to $13.57 in recent trading.

Nabors Industries Ltd. (NBR) was downgraded from ‘Sector Outperform’ to ‘Sector Perform’ at Scotia Howard Weil.

Shares have traded today between $11.36 and $12.07 with the price of the stock fluctuating between $8.94 to $20.66 over the last 52 weeks.

Nabors Industries Ltd. shares have a t-12 price/sales ratio of 0.67. EPS for the same period registers at ($2.42).

Shares of Nabors have gained $0.07 to $11.91 in midday trading on Thursday, giving it a market cap of roughly $4 billion. The stock traded as high as $20.66 in January 2, 2015.

Exact Sciences Corporation (EXAS) rating of ‘Neutral’ was reiterated today at Wedbush with a price target decrease of $7 from $18 (versus a $10.02 previous close).

EXACT Sciences Corp. recently traded at $7.77, a loss of $2.25 over Wednesday’s closing price. The name has a current market cap of $746.60 million.

Shares of SunEdison, Inc. (SUNE) are down $0.48 to $9.24 in midday trading after Needham reiterated its ‘Buy’ rating. The firm however, lowered its 12-month base case estimate on the name by 8 points to $18 a share.

SUNE shares recently lost $0.49 to $9.23. The stock is down more than 45% year-over-year and has lost roughly 50% year-to-date. In the past 52 weeks, shares of Maryland Heights, Missouri-based company have traded between a low of $6.56 and a high of $33.45.

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