February 20, 2015 / 4:33 PM / 2 years ago

BUZZ-Acacia Research Corp: Lower-than-expected profit

1 Min Read

** Patent licensing company's shares down about 8 pct at $12.24

** Company posts lower-than-expected adjusted profit for fourth quarter due to higher expenses

** Barclays Capital cuts price target to $15 from $20, Cowen and Company cuts price target to $20 from $24

** Median price target on the stock is $17, according to Thomson Reuters data

** Of five analysts covering the stock, four rate it "Buy", while one has a "Hold" rating

** Up to Thursday's close, stock had lost about 16 pct in the past 12 months

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