Jefferies downgraded Bellus Health (BLU) to Hold from Buy with a price target of $14.75, down from $21, after GSK (GSK) announced its agreement to acquire Bellus for $2B in cash. Given that "not many big pharmas have respiratory franchises," and the "good premium," the firm views potential counterbids as unlikely.
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Published first on TheFly
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Read More on BLU:
- Bellus Health management to meet with Piper Sandler
- Bellus Health cut to Sector Perform at RBC Capital on GSK deal
- Bellus Health downgraded to Sector Perform from Outperform at RBC Capital
- Bellus Health downgraded to In Line from Outperform at Evercore ISI
- GSK to acquire Bellus Health for $14.75 per share
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