MediWound Ltd. (MDWD) Lowered to Sell at Zacks Investment Research
MediWound Ltd. (NASDAQ:MDWD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.
According to Zacks, “MediWound Ltd. is a biotechnology niche specialty company. It is focused on developing, manufacturing and commercializing products that address unmet needs in the fields of severe burn and chronic wound management. The company is also developing NexoBrid for the removal of eschar, a dead or damaged tissue in adults with deep partial- and full-thickness thermal burns. MediWound Ltd. is headquartered in Yavne, Israel. “
Several other analysts have also recently commented on the company. Wells Fargo & Co. assumed coverage on MediWound in a research report on Wednesday, August 17th. They set an “outperform” rating and a $14.00 price target for the company. Jefferies Group dropped their price target on MediWound from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Friday, July 29th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $13.63.
Shares of MediWound (NASDAQ:MDWD) opened at 7.57 on Wednesday. MediWound has a 52-week low of $5.66 and a 52-week high of $10.47. The stock’s 50 day moving average price is $7.70 and its 200 day moving average price is $7.79. The company’s market capitalization is $165.40 million.
MediWound (NASDAQ:MDWD) last announced its earnings results on Thursday, July 28th. The biopharmaceutical company reported ($0.34) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by $0.11. The business had revenue of $3.36 million for the quarter, compared to analyst estimates of $0.45 million. MediWound had a negative return on equity of 103.14% and a negative net margin of 2,332.07%. The company’s quarterly revenue was up 115.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.19) earnings per share. On average, equities research analysts forecast that MediWound will post ($1.02) earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of MDWD. Renaissance Technologies LLC boosted its stake in shares of MediWound by 19.4% in the first quarter. Renaissance Technologies LLC now owns 49,800 shares of the biopharmaceutical company’s stock valued at $402,000 after buying an additional 8,100 shares during the last quarter. United Services Automobile Association boosted its stake in shares of MediWound by 125.9% in the second quarter. United Services Automobile Association now owns 123,440 shares of the biopharmaceutical company’s stock valued at $968,000 after buying an additional 68,800 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of MediWound by 10.7% in the first quarter. Wellington Management Group LLP now owns 1,044,703 shares of the biopharmaceutical company’s stock valued at $8,431,000 after buying an additional 100,723 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of MediWound during the second quarter valued at about $13,302,000. Institutional investors own 26.48% of the company’s stock.
MediWound Company Profile
MediWound Ltd. is a biopharmaceutical company focused on developing, manufacturing and commercializing products in the fields of severe burns, chronic and other hard-to-heal wounds, connective tissue disorders and other indications. The Company’s biopharmaceutical product, NexoBrid, received marketing authorization from the European Union agency (EMA) and the Israeli and Argentinean ministries of health for removal of dead or damaged tissue, known as eschar, in adults with deep partial and full thickness thermal burns, also referred to as severe burns.
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