Morgan Stanley analyst Michael Ulz downgraded Iveric bio (ISEE) to Equal Weight from Overweight with a price target of $40, up from $35, after Astellas Pharma (ALPMY) agreed to acquire Iveric for $40 per share in cash. The firm, which views the deal as "a positive," continues to expect approval of avacincaptad pegol for geographic atrophy, or GA, in Q3, noting that it has a PDUFA date of August 19.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on ISEE:
- Optics of Iveric deal may pressure Apellis near-term, says Baird
- Iveric bio downgraded to Neutral from Outperform at Wedbush
- Apellis should be bought on selloff from Iveric deal, says Citi
- Iveric bio downgraded to Neutral from Buy at Guggenheim
- Iveric Bio (NASDAQ:ISEE) Sold for $5.9B
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue