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.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
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