Barclays downgraded Merus (MRUS) to Equal Weight from Overweight with a price target of $97, down from $112, after the company agreed to be acquired by Genmab (GMAB) is an all-cash transaction valued at $8.0B, or $97 per share. The firm expects a timely deal closure and sees a low probability of another bidder.
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Read More on MRUS:
- Merus downgraded to Market Perform from Outperform at LifeSci Capital
- Balanced Hold Rating on Genmab’s Acquisition of Merus Amid Valuation and Strategic Fit Concerns
- Merus downgraded to Neutral from Buy at Guggenheim
- Hold Rating Given to Merus Amid Genmab Acquisition Reflecting Full Stock Valuation and Strategic Asset Integration
- Merus downgraded to Neutral from Buy at H.C. Wainwright