H.C. Wainwright downgraded Chimerix (CMRX) to Neutral from Buy after the company agreed to be acquired for $8.55 per share in cash by Jazz Pharmaceuticals (JAZZ). The total consideration of approximately $935M reflects about a 72% premium to the closing price on March 4, the analyst noted.
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Read More on CMRX:
- Chimerix downgraded to Neutral from Outperform at Wedbush
- Chimerix Merges with Jazz Pharmaceuticals in $935M Deal
- Jazz Pharmaceuticals to acquire Chimerix for $8.55 per share in cash
- Jazz Pharmaceuticals to acquire Chimerix for $8.55 per share in cash, or $935M
- Chimerix’s Strategic Pause and Financial Strength Bolster Long-term Buy Rating Amid Regulatory Milestones