NEW YORK (TheStreet) -- Radius Health (RDUS) - Get Report stock is declining by 1.80% to $32.24 in pre-market trading on Wednesday, following a rating downgrade to "hold" from "buy" at Jefferies this morning.
The firm maintained its $37 price target on the stock.
Radius Health stock skyrocketed earlier this week on data indicating that its osteoporosis drug abaloparatide was more effective that Amgen's (AMGN) osteoporosis drug romosozumab.
However, experts don't discern a large difference in competitiveness between anabolic drugs, as none have been proven to reduce hip fractures, according to the firm.
Clinical fracture prevention, particularly with the hip, is the biggest unmet need, and neither Forteo, abaloparatide or romosozumab have proven prevention., Jefferies continued.
"With [abaloparatide] approvability largely priced in, we view meaningful upside as unlikely (in the absence of a potential buyout), thus moving to the sidelines," Jefferies wrote in a note.