Unilife (UNIS) Stock Lower on Jefferies Downgrade ByEiffy...

Unilife (UNIS) Stock Lower on Jefferies Downgrade

ByEiffy LuoFollow|08/06/15 - 03:22 PM EDT

NEW YORK (TheStreet) --Unilife (UNIS - Get Report)price target was cut to $1.50 from $8.00 at Jefferies, which also lowered its rating to "hold" from "buy" on Thursday.

Unilife launched a new patch pump for Type 2 diabetics last week, and is hoping to sign pharmaceutical partners to sell the pump with their respective insulin products, Jefferies noted.

"The problem is that Unilife is reliant on cash receipts tied to research projects to fund operations and the cash burn remains heavy," Jefferies analysts said.


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