Zealand Pharma: shares fall after downgrade

(CercleFinance.com) - Zealand Pharma shares fell by over 10% on Tuesday after an analyst downgraded the stock, citing a lack of near-term catalysts.


Jefferies analysts, who cut their rating on the share to "hold" with a target price of 235 Danish kronor, said commercial execution has become a "risk" for the company as it plans to self-commercialise its leading asset, the dasiglucagon HypoPal device.

However, the rescue pen will likely be the 3rd to be marketed, behind competitors including Lilly, which prompts Jefferies to believe that the shares appear "fully valued."

The Zealand Pharma shares are currently down 10.4% at 219.6 Danish kronor in Copenhagen.

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