RBC Capital analyst Brian Abrahams downgraded Ambrx Biopharma (AMAM) to Sector Perform from Outperform with a $28 price target after Johnson & Johnson (JNJ) announced a deal to acquire all of the outstanding shares of Ambrx for $28.00 per share in cash.
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Read More on AMAM:
- Ambrx Announces Sale to Johnson & Johnson
- Ambrx Biopharma to be added to the Nasdaq Biotechnology Index
- Ambrx to be Added to the NASDAQ Biotechnology Index (NBI)
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- Ambrx Provides Update On APEX-01, an On-Going Phase 1 / 2 Dose Escalation Study Evaluating ARX517, a Proprietary PSMA-Targeting ADC, in Metastatic Castration-Resistant Prostate Cancer
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