Lake Street downgraded Checkpoint Therapeutics (CKPT) to Hold from Buy with a price target of $4.10, down from $7, after Sun Pharma announced it will be acquiring Checkpoint for up to $355M, or $4.10 per share, plus a contingent value right of up to 70c per share. The firm expects no additional bids and for the deal to close in Q2, the analyst tells investors.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CKPT:
- Unusually active option classes on open March 10th
- Checkpoint price target lowered to $4.80 from $9 at D. Boral Capital
- Checkpoint Therapeutics Merges with Sun Pharma for $416M
- Checkpoint Therapeutics initiated with a Buy at D. Boral Capital
- Checkpoint Therapeutics Signs Executive Agreement with CFO