Jefferies downgraded Calliditas Therapeutics (CALT) to Hold from Buy with a price target of $39, down from $58, after Asahi Kasei (AHKSY) announced an agreement to acquire Calliditas for about $39 per ADS or about $1.1B. The deal value of $1.1B translates to about a 1.5 times multiple based on the firm’s Tarpeyo peak sales estimate of $745M in 2027, which “makes sense,” the analyst tells investors.
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Read More on CALT:
- M&A News: Asahi Kasei Offers to Acquire Calliditas in $1.1 Billion Deal
- Calliditas Therapeutics price target lowered to $45 from $50 at H.C. Wainwright
- Calliditas Therapeutics Q1 2024 Financial Surge
- Calliditas Therapeutics price target raised to $58 from $57 at Jefferies
- Calliditas Therapeutics Ab (CALT) Q1 Earnings Cheat Sheet
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