Wolfe Research downgraded Centessa (CNTA) to Peer Perform from Outperform following the announcement of Eli Lilly’s (LLY) acquisition agreement. The firm believes Centessa has a “very good chance to hit all 3 CVR milestones” and doesn’t expect another bidder, the analyst tells investors.
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 CNTA:
- Centessa downgraded to Neutral from Buy at B. Riley
- Centessa rises 45.7%
- Morning Movers: Marvell jumps following Nvidia investment, AI factory pact
- Video: Deals in food and pharmaceuticals headline busy morning of M&A
- Eli Lilly (LLY) Enters Sleep Disorder Business with $7.8 Billion Acquisition of Centessa