Zacks Investment Research downgraded shares of Aastrom Biosciences, Inc. (ASTM) from OUTPERFORM to NEUTRAL on October 05, 2012, with a target price of $3.00.
Today we are lowering our rating on shares of Aastrom Biosciences from 'Outperform' to 'Neutral'. Although we believe the shares remain an attractive long-term investment in the biotech sector, we see a number of issues that are expected to continue to weigh on the shares over the near-term. Accordingly, we see the stock trending side-ways for the better part of the next year thus a more neutral position with respect to the stock price is warranted. In accordance with lowering our rating, we are also adjusting our price target from $5 per share to $3 per share.
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