UBS analyst Eliana Merle downgraded Iveric bio to Neutral from Buy with a price target of $40, up from $34, after Astellas Pharma announced an agreement to acquire Iveric for $40 per share in cash, or a total equity value of $5.9B. The firm’s Our base case is that the deal closes given approval by both Iveric and Astellas boards.
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Published first on TheFly
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