Deutsche Bank analyst David Hoang downgraded Avadel Pharmaceuticals (AVDL) to Hold from Buy with a $20 price target after the company entered into a definitive agreement to be acquired by Alkermes (ALKS) in an all-cash transaction for up to $20.00 per share – $18.50 per share plus a contingent value right of $1.50 per share.
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Read More on AVDL:
- LendingClub upgraded, Enphase Energy downgraded: Wall Street’s top analyst calls
- Avadel downgraded to Neutral from Buy at H.C. Wainwright
- Avadel downgraded to Market Perform from Outperform at Leerink
- Alkermes price target raised to $45 from $38 at Piper Sandler
- Alkermes price target raised to $47 from $45 at RBC Capital