Zacks downgraded Pure Bioscience (NASDAQ: PURE) from Outperform to Neutral with a $1.75 price target.
Zacks said, “[W]e are concerned about the slow sales ramp for the Company s SDC products. Although its lead product PURE Hard Surface is increasingly gaining recognition, sales may take longer time to gain traction since PURE is still in its early stage of commercialization of its SDC technology. Sales so far have not been impressive. SDC technology is quite new to most customers in the disinfectant market, and the costs for SDC are also higher than those for most existing technologies. Therefore, rollout of the SDC platform will take time.”
Pure Bioscience closed at $0.79 on Thursday.
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Tags: Zacks
Posted in: Analyst Color, Downgrades, Intraday Update, Analyst Ratings