Iveric bio downgraded to Neutral from Outperform at Wedbush

Wedbush downgraded Iveric bio to Neutral from Outperform with a price target of $40, up from $35, after the company entered into a definitive agreement under which Astellas Pharma will acquire 100% of its outstanding shares for $40 per share in cash for a total equity value of $5.9B.