H.C. Wainwright analyst Arthur He downgraded Poseida Therapeutics (PSTX) to Neutral from Buy with a price target of $9, down from $20, after Roche (RHHBY) agreed to acquire the company for $1.5B, including $9 per share in cash and a non-tradable contingent value right to receive up to an aggregate of $4 per share in cash upon achievement of specific milestones.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PSTX:
- Poseida downgraded to Market Perform from Outperform at William Blair
- Poseida Therapeutics downgraded to Neutral from Buy at BTIG
- Poseida Therapeutics downgraded to Neutral from Overweight at Cantor Fitzgerald
- Poseida Therapeutics to be acquired by Roche for $9.00 per share plus CVR
- Poseida Therapeutics Advances in Cell Therapy Innovations