Zacks Investment Research downgraded shares of Atossa Genetics (ATOS) from OUTPERFORM to NEUTRAL on October 07, 2013, with a target price of $5.00.
Atossa is a pure play breast health testing company with a focused growth strategy. The Company has recently launched FDA cleared MASCT System for NAF collection and two lab testing services. However, the unexpected recall of its marketed MASCT system and ForeCYTE test is a big setback for the company. We have lowered our estimates for the remainder of 2013 and onwards. As a result of the recall, profitability will be delayed by two years according to our model. We are Neutral on Atossa shares at this point of time.
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