Citi analyst Geoff Meacham downgraded Avidity Biosciences (RNA) to Neutral from Buy with an unchanged price target of $72 after the company entered into a merger agreement with Novartis (NVS) for $72 per share. Citi believes a competitive bid is unlikely.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RNA:
- Avidity Biosciences downgraded to Neutral from Buy at Chardan
- Avidity Biosciences downgraded to Sector Perform from Outperform at RBC Capital
- Midday Fly By: Novartis to buy Avidity, Keurig Dr Pepper beats expectations
- Avidity Biosciences rises 42.5%
- Avidity Biosciences downgraded to Neutral from Buy at Citi