NEW YORK (MarketWatch) — Tekmira Pharmaceuticals Corp. shares
tumbled 14% in early trade Monday, after Leerink downgraded the stock to market perform from outperform on valuation grounds. Tekmira has seen its shares surge on hopes for itsEbola drug, which has already been used to treat infected patients, including Richard Sacra, the American missionary who contracted the deadly virus in Liberia. The shares had gained about 230% from their July lows, “and we believe a scenario reflecting significant TKM-EBOLA profits is now baked into the stock,” Leerink analysts wrote in a note. Tekmira shares are up 221% in the year to date, while the S&P 500
is up 6.8%.
View more information: https://www.marketwatch.com/story/tekmira-shares-slump-as-leerink-downgrades-on-valuation-grounds-2014-10-06