VIVUS stock (VVUS) has taken a hit following a downgrade by equities research analysts at Piper Jaffray.
Wall Street has watched the biopharmaceutical company falling for some time. VIVUS stock has dropped 31.9% year-to-date, and has underperformed the S&P 500 Index by more than 37 percentage points in the past 60 sessions.
VVUS stock is down 6.3% in early morning trading.
The security sports just two “strong buy” recommendations, compared to five “holds” and three “sell” or worse ratings. Meanwhile, short interest accounts for more than one-third of the stock’s total available float, and would take more than seven sessions to buy back, at VVUS’ average daily trading volume.
Others have already downgraded VIVUS, including analysts at WallachBeth Capital. In February, analysts at Jefferies Group cut their price target for VVUS from $5 to $2 and Credit Suisse cut their price target from $10 to $7.
VIVUS has a consensus rating of “hold.”
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