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Downgrades

MacroGenics Gets Downgraded Following Disappointing Prostate Cancer Trial Results: ‘We Were Surprised By Reported Deaths’

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MacroGenics Inc (NASDAQ:MGNX) released interim data from the TAMARACK Phase 2 study of vobramitamab duocarmazine (vobra duo). TAMARACK is being conducted in previously treated patients with metastatic castration-resistant prostate cancer (mCRPC). MacroGenics reported five deaths (fatal outcome) during the trial. It also reported over 50% rate of grade 3, or worse, adverse events in both dose cohorts (2 […]
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Downgrades

Fertility Solutions-Focused Progyny Stock Sinks After Soft Guidance; Analyst Says ‘Can No Longer Underwrite Sustained Healthy Growth In Forecasts’

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On Thursday, Progyny Inc (NASDAQ:PGNY) reported first-quarter sales of $278.1 million, up 7.6% year over year, missing the consensus of $289.46 million, primarily due to the increased number of clients and covered lives. Fertility benefit services revenue was $169.8 million, an 8.0% increase from the $157.1 million reported in the first quarter of 2023. Pharmacy benefit services revenue was $108.3 […]
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Downgrades

Orthopedic Devices Maker Treace Medical Concepts’ Gloomy Forecast Cast Concerns Over Long-Term Viability

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Orthopedic medical device company Treace Medical Concepts Inc (NASDAQ:TMCI) on Tuesday reported a first-quarter EPS loss of $(0.30), down from $(0.23) a year ago, better than the consensus of $(0.31). The company reported sales of $51.11 million, up 21%, beating the consensus of $49.1 million. The increase was driven by a higher volume of procedure kits sold due to an […]
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Downgrades

ZoomInfo Technologies Stock Dives On Heels Of Q1 Earnings: ‘Investors Need To Carefully Monitor The Macro’

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Shares of ZoomInfo Technologies Inc (NASDAQ:ZI) continued to tank on Wednesday, after having lost more than 21% in the premarket session. The company reported results amid an exciting earnings season. Here are some key analyst takeaways. Goldman Sachs analyst Kash Rangan downgraded the rating from Neutral to sell, while cutting the price target from $19.50 […]
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Downgrades

Why Sprout Social Shares Got Crushed Friday

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Cloud software company Sprout Social (NASDAQ:SPT) saw shared fell 40% Friday after reporting first-quarter financial results Thursday. What Happened: Sprout Social reported first-quarter revenue of $96.87 million, which missed a Street consensus estimate of $97.31 million, according to data from Benzinga Pro. The company’s earnings per share of 10 cents beat a Street consensus estimate […]
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Downgrades

Expedia Faces Challenges: Analysts Concerned About Vrbo’s Slow Start and B2C Growth

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Benchmark analyst Daniel Kurnos reiterated Expedia Group (NASDAQ:EXPE) with a Buy and a $180 price target. Expedia reported first-quarter sales of $2.89 billion, up by 8.4% year-on-year, beating the analyst consensus estimate of $2.81 billion. EPS loss of $(0.21) beat the analyst consensus estimate of loss of $(0.24). Kurnos noted that Expedia didn’t benefit from having a better gross bookings outlook for the year compared to Booking […]
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Downgrades

Fastly’s Near-Term Risks Include Challenges with Top Customers, Analyst Expresses Concern

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B of A Securities analyst Tal Liani downgraded Fastly Inc (NYSE:FSLY) from Buy to Underperform and lowered the price target from $18 to $8. On Wednesday, Fastly reported quarterly sales of $133.52 million, up by 13.6% year-on-year, which marginally beat the analyst consensus estimate of $133.1 million. EPS loss of $(0.05) beat the analyst consensus estimate loss of $(0.06). The stock price plunged on […]
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Downgrades

Paramount Could Be Worth $4 Or $14 Per Share In Deal, Analyst Says: ‘We Prefer To Sit This One Out’

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Media company Paramount Global (NASDAQ:PARA)(NASDAQ:PARAA) reported first-quarter financial results that saw revenue miss Street consensus estimates and earnings per share come in ahead of estimates. The company also announced a CEO change with Bob Bakish stepping down. Analysts react to the report and what’s next for the company. The Paramount Analysts: Bank of America analyst […]
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Downgrades

Mobileye Global Hit By Surprise EV Slowdown; This Analyst Turns Bearish

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Mobileye Global Inc (NASDAQ:MBLY) reported a 48% year-on-year revenue decline for the first quarter. According to Morgan Stanley, the stiff competition and the unexpected downturn in electric vehicle (EV) adoption limits Mobileye’s TAM (total addressable market) through 2030. The Mobileye Global Analyst: Adam Jonas downgraded the rating for Mobileye Global from Equal-Weight to Underweight. He […]
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