RBC Capital raised the firm’s price target on Adverum Biotechnologies (ADVM) to $4 from $3 and keeps a Sector Perform rating on the shares. The firm cites the company’s acquisition announcement by Eli Lilly (LLY) at $3.56 per share in cash plus 1 nontransferable CVR valued up to $8.91/share contingent upon achievement of two milestone events, the analyst tells investors in a research note.
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