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.
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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
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- Checkpoint Therapeutics Signs Executive Agreement with CFO