BofA is moving to No Rating on SpringWorks Therapeutics (SWTX) given that shares are trading near the Merck KGaA (MKGAY) potential offer price of $47 per share and “no longer trading on fundamentals.” A $47 per share price, while below expectations, would be a validation of the market opportunity for Gomekli and Ogsiveo, the analyst stated.
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Read More on SWTX:
- M&A News: Merck KGaA to Buy SpringWorks for $3.5B to Boost Oncology Business
- Merck KGaA confirms late-stage talks to acquire SpringWorks for $47 per share
- Merck KGaA near $47 per share deal to buy SpringWorks Therapeutics, WSJ says
- SpringWorks EU approval would enhance strategic value, says Evercore
- Positive opinion for Ogsiveo would de-risk SpringWorks deal, says Barclays
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