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Investment Bank Downgrades Orchid Stock After Firm Cut 05 Revenue Projection

NEW YORK, March 10 (GenomeWeb News) - Investment bank Caris & Company downgraded Orchid Cellmark stock to "average" from "above average" yesterday after the company cut its 2005 revenue projections.

 

Orchid cut its 2005 total revenue forecast to between $61 million and $62 million from about $64 million, primarily due to lower-than-expected production capacity in its Dallasfacility.

 

The company also said yesterday it has replaced its CEO.

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