Gamida Cell downgraded to Market Perform from Outperform at JMP Securities

JMP Securities downgraded Gamida Cell to Market Perform from Outperform and removed the firm’s previous $3 price target on the shares after Gamida announced it is exploring strategic alternatives to maximize the commercial opportunity for its lead asset Omisirge and for its shareholders. While the firm acknowledges the early success that has been achieved with Omisirge, commercial efforts remain “resource constrained” and until there is greater clarity on the outcome of this strategic process, the firm believes the stock is fairly valued at current levels, the analyst tells investors.