Northland downgraded Durect (DRRX) to Market Perform from Outperform with a $2.50 price target after Bausch Health (BHC) announced a definitive agreement to indirectly acquire Durect for $1.75 per share in an all-cash transaction for an upfront consideration of approximately $63M at closing, with the potential for two additional net sales milestone payments of up to $350M in the aggregate if achieved.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DRRX: