Jefferies analyst Maury Raycroft downgraded Chimerix (CMRX) to Hold from Buy with a price target of $8.50, down from $10, after Jazz Pharmaceuticals (JAZZ) announced a deal to acquire the company for $8.55 per share or $935M in cash. Lead asset dordaviprone for diffuse midline glioma fits into Jazz’s small molecule-focused oncology pipeline, says the analyst, who believes the deal is “fair.”
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