Carbylan Therapeutics Inc (CBYL) was Downgraded by JMP Securities to ” Mkt Perform”. Earlier the firm had a rating of “Mkt Outperform ” on the company shares. JMP Securities advised their investors in a research report released on Apr 18, 2016.
Many Wall Street Analysts have commented on Carbylan Therapeutics Inc. Shares were Reiterated by Wedbush on Feb 3, 2016 to “Outperform” and Lowered the Price Target to $ 14 from a previous price target of $21 .Carbylan Therapeutics Inc was Downgraded by Leerink Partners to ” Mkt Perform” on Feb 2, 2016.
On the company’s financial health, Carbylan Therapeutics Inc reported $-0.19 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Nov 11, 2015. Analyst had a consensus of $-0.26. The company had revenue of $.01 million for the quarter.The company’s revenue was down -30.0 % compared to the same quarter last year.
Carbylan Therapeutics Inc closed down -0.007 points or -1.09% at $0.6351 with 20,33,494 shares getting traded on Friday. Post opening the session at $0.684, the shares hit an intraday low of $0.6301 and an intraday high of $0.7299 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Dec 31, 2015, David Renzi (President & CEO) sold 10,000 shares at $3.70 per share price. According to the SEC, on Apr 27, 2015, Albert Cha (director) purchased 1,012,500 shares at $5.00 per share price. On Apr 14, 2015, Guy P Nohra (director) purchased 877,500 shares at $5.00 per share price, according to the Form-4 filing with the securities and exchange commission.
Carbylan Therapeutics Inc. (Carbylan Therapeutics) is a clinical-stage specialty pharmaceutical company. The Company is focused on the development and commercialization of combination therapies that address unmet medical needs. The Companys focus is on the development of Hydros-TA an intra-articular (IA) injectable product candidate to treat pain associated with osteoarthritis (OA) of the knee. Hydros-TA utilizes cross-linking technology to deliver both rapid pain relief with a low dose corticosteroid triamcinolone acetonide (TA) and sustained pain relief from hyaluronic acid viscosupplement. It is comprised of bacterially-derived HA-based hydrogel particles suspended in a solution of hyaluronic acid. Hydros-TA is being studied in its COR1.1 trial a Phase III multi-center randomized double-blind three-arm trial with grade two and grade three OA of the knee.