ARMO BioSciences (ARMO) Downgraded by Jefferies Financial Group to “Hold”

Jefferies Financial Group downgraded shares of ARMO BioSciences (NASDAQ:ARMO) from a buy rating to a hold rating in a research note released on Wednesday, MarketBeat Ratings reports. Jefferies Financial Group currently has $50.00 price target on the stock, down from their prior price target of $61.00.

Other analysts also recently issued research reports about the stock. Robert W. Baird downgraded shares of ARMO BioSciences from an outperform rating to a neutral rating and set a $67.00 price objective for the company. in a report on Thursday, May 10th. Zacks Investment Research upgraded shares of ARMO BioSciences from a sell rating to a hold rating in a report on Monday, May 21st. Leerink Swann downgraded shares of ARMO BioSciences from an outperform rating to a market perform rating and set a $50.00 price objective for the company. in a report on Thursday, May 10th. ValuEngine upgraded shares of ARMO BioSciences from a sell rating to a hold rating in a report on Wednesday, May 2nd. Finally, BMO Capital Markets downgraded shares of ARMO BioSciences from an outperform rating to a market perform rating and set a $75.00 price objective for the company. in a report on Thursday, May 10th. Six equities research analysts have rated the stock with a hold rating, The stock currently has a consensus rating of Hold and a consensus price target of $60.50.

ARMO BioSciences opened at $50.01 on Wednesday, according to MarketBeat. ARMO BioSciences has a 52-week low of $25.10 and a 52-week high of $57.19. The stock has a market cap of $1.52 billion and a P/E ratio of -1.75.



ARMO BioSciences (NASDAQ:ARMO) last posted its quarterly earnings data on Monday, April 2nd. The company reported ($9.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($9.17). analysts forecast that ARMO BioSciences will post -2.34 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of ARMO. American International Group Inc. purchased a new position in shares of ARMO BioSciences in the first quarter worth about $164,000. The Manufacturers Life Insurance Company purchased a new position in shares of ARMO BioSciences in the first quarter worth about $188,000. Rhumbline Advisers purchased a new position in shares of ARMO BioSciences in the first quarter worth about $227,000. New York State Common Retirement Fund purchased a new position in shares of ARMO BioSciences in the first quarter worth about $251,000. Finally, California State Teachers Retirement System purchased a new position in shares of ARMO BioSciences in the first quarter worth about $390,000. Hedge funds and other institutional investors own 40.94% of the company’s stock.

About ARMO BioSciences

ARMO BioSciences, Inc, an immuno-oncology company, develops a pipeline of novel product candidates that activate the immune system of cancer patients to recognize and eradicate tumors in the United States. Its lead product candidate is AM0010, a long acting form of human interleukin-10 that is in Phase III randomized pivotal clinical trial for the treatment of pancreatic ductal adenocarcinoma.

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