AInvest Newsletter
Daily stocks & crypto headlines, free to your inbox
Pardes Biosciences: JMP Securities downgrades to 'Market Perform' Rating
ByAinvest
Tuesday, Jul 18, 2023 8:00 am ET1min read
JMP Securities downgrades 'Market Perform' rating on Pardes Biosciences(PRDS), compare with the 'Market Outperform' previously.
[Recent Rating]
| Date | Agency | Change | Rating | Rating （previously） | Target Price | Target Price（previously） |
|---|---|---|---|---|---|---|
| 2023-07-18 | JMP Securities | Downgrades | Market Perform | Market Outperform | $-- | $-- |
[Recent Earning Results] Pardes Biosciences posted the Q1 of its 2023 financial results on 5/5/2023, reporting net income of USD -17.81 million in the first quarter, narrowing 16.95% from USD -21.44 million year over year.
[Company Profile] Pardes Biosciences, Inc. is a company incorporated in Delaware on August 21, 2020. Pardes Biosciences is a clinical-stage biopharmaceutical company created to help solve pandemic-sized problems, starting with COVID-19. They are applying modern reversible-covalent chemistry as a starting point to discover and develop novel oral drug candidates while reimagining the patient journey to access these medicines. The company's lead product candidate, PBI-0451, is being developed as a direct-acting, oral antiviral drug to treat and prevent SARS-CoV-2 infections, the virus responsible for COVID-19.
Ainvest News articles are AI-generated using advanced large language model (LLM) technology designed to analyze and synthesize publicly available data and news. While AI tools assist in producing initial drafts and insights, all AI generated content published on Ainvest is subject to comprehensive human editorial review before publication. A designated human editor reviews, verifies, and approves each article for factual accuracy, coherence, and compliance with AInvest Fintech Inc’s editorial and disclosure standards.
Despite these review procedures, the information provided may still contain inaccuracies, incomplete data, or time sensitive references due to the inherent limitations of AI generated analysis and evolving changes. The material is provided strictly for informational and educational purposes and does not constitute personalized investment, legal, or financial advice. Readers should independently verify all facts, figures, and statements before making any decision based on this content.
AInvest Fintech Inc. its affiliates, and partners accept no liability or responsibility for any direct or consequential losses arising from reliance on this content. All articles and analyses are subject to revision, update, or removal without prior notice to maintain accuracy and integrity in our publications.
Comments
No comments yet