- Beaufort Securities has downgraded its recommendation on Imperial Innovations [LON:IVO] to hold from buy after the company provided shareholders with a disappointing outcome following clinical trials undertaken by Circassia Pharmaceuticals [LON:CIR] in which it has a significant investment.

Analysts said: "Following yesterday's news, Circassia's share price tumbled over 67% leaving its market capitalisation at just £252m.

"In light of the growing uncertainty in Imperial's portfolio company, we downgrade the rating to Hold until greater clarification is provided."

At 2:39pm:

[LON:CIR] Circassia Pharmaceuticals Plc Ord 0.08p share price was +6.7p at 97.7p

[LON:IVO] Imperial Innovations Group PLC share price was +11.5p at 427.5p

Story provided by