First Albany Cuts Renovis to Neutral

From Standard & Poor's Equity Research

First Albany downgraded Renovis (RNVS) to neutral from buy, noting the research trials of the company's drug in development for treating ischemic stroke.

Analyst Lucy Lu says she has less confidence regarding the drug's efficacy, and doesn't feel comfortable having a buy recommendation on Renovis. Still, for the time being, she maintains her sales estimates.

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