H.C. Wainwright downgraded Calliditas Therapeutics (CALT) to Neutral from Buy with a $39 price target after Japanese manufacturer Asahi Kasei (AHKSY) announced an agreement to acquire all ordinary shares and American Depositary Shares of Calliditas for SEK 208 and SEK 416 per share, respectively, in cash. The firm is “not surprised by Asahi’s decision to acquire Calliditas at a premium,” which it believes validates the company’s significant growth potential in Nefecon and setanaxib.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
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