Zacks Investment Research downgraded shares of CytoDyn (OTCMKTS:CYDY) from a buy rating to a hold rating in a research report released on Friday.
According to Zacks, “CytoDyn is a biotechnology company focused on the clinical development and potential commercialization of humanized monoclonal antibodies for the treatment and prevention of HIV infection. The Company has one of the leading monoclonal antibodies under development for HIV infection, PRO 140, which has completed Phase 2 clinical trials with demonstrated antiviral activity in humans and is currently in Phase 3 development. PRO 140 blocks the HIV co-receptor CCR5 on T cells, which prevents viral entry. Clinical trial results thus far indicate that PRO 140 does not negatively affect the normal immune functions that are mediated by CCR5. Results from seven Phase 1 and Phase 2 human clinical trials have shown that PRO 140 can significantly reduce viral burden in people infected with HIV. A recent Phase 2b clinical trial demonstrated that PRO 140 can prevent viral escape in patients during several months of interruption from conventional drug therapy. “
Other analysts also recently issued research reports about the company. HC Wainwright set a $2.00 target price on CytoDyn and gave the stock a buy rating in a research report on Wednesday, October 10th. ValuEngine upgraded CytoDyn from a hold rating to a buy rating in a research report on Thursday, November 1st.
CytoDyn (OTCMKTS:CYDY) last issued its quarterly earnings data on Tuesday, October 9th. The biotechnology company reported ($0.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.01). As a group, analysts anticipate that CytoDyn will post -0.21 EPS for the current year.
CytoDyn Company Profile
CytoDyn Inc, a clinical-stage biotechnology company, focuses on the clinical development and commercialization of humanized monoclonal antibodies for the treatment and prevention of human immunodeficiency virus (HIV) infection. Its lead product is PRO 140, a therapeutic anti-viral agent, which is in Phase IIb treatment substitution trial, Phase IIb extension study, Phase IIb/III pivotal trial, and Phase IIb/III investigative trial for HIV; and Phase II trial for graft-versus-host disease.
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