Zacks Investment Research Lowers Bellus Health (NYSE:BLU) to Sell

Zacks Investment Research cut shares of Bellus Health (NYSE:BLU) from a hold rating to a sell rating in a research note published on Wednesday, Zacks.com reports.

According to Zacks, “BELLUS Health is a global health company focused on the development and commercialization of products to provide innovative health solutions to address critical unmet medical needs. “

A number of other research firms have also recently issued reports on BLU. TheStreet upgraded Bellus Health from a d+ rating to a c- rating in a research report on Friday, January 3rd. Cowen started coverage on Bellus Health in a research report on Monday, September 30th. They set an outperform rating on the stock. JBL Advisors started coverage on Bellus Health in a research report on Monday, September 30th. They set a buy rating on the stock. Jefferies Financial Group began coverage on Bellus Health in a research report on Monday, September 30th. They set a buy rating and a $20.00 price objective on the stock. Finally, Guggenheim began coverage on Bellus Health in a research report on Monday, September 30th. They issued a buy rating and a $12.00 price target on the stock. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $16.00.

Shares of BLU traded down $0.23 on Wednesday, reaching $8.57. 1,493 shares of the stock traded hands, compared to its average volume of 343,935. Bellus Health has a 12 month low of $2.63 and a 12 month high of $9.36. The stock’s 50-day moving average is $7.41.

Bellus Health (NYSE:BLU) last released its quarterly earnings data on Thursday, November 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.03). The firm had revenue of $0.01 million during the quarter, compared to analyst estimates of $0.01 million.

A number of large investors have recently made changes to their positions in the business. Orbimed Advisors LLC bought a new stake in Bellus Health in the third quarter valued at $45,129,000. Millennium Management LLC bought a new stake in Bellus Health in the third quarter valued at $424,000. Finally, Point72 Asset Management L.P. bought a new stake in Bellus Health in the third quarter valued at $257,000.

Bellus Health Company Profile

BELLUS Health Inc, a clinical-stage biopharmaceutical company, develops novel therapeutics for conditions with high unmet medical need. Its lead drug candidate includes BLU-5937, a small molecule antagonist of the P2X3 receptor for chronic cough. The company also has economic interests in various partnered development stage programs, including KIACTA for the treatment of sarcoidosis; AMO-01 for treatment of Phelan McDermid syndrome; and ALZ-801 for APOE4 homozygous Alzheimer's disease.

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