JonesResearch analyst Catherine Novack downgraded Regulus (RGLS) to Hold from Buy with a price target of $7, down from $8, after the company agreed to be acquired by Novartis (NVS) for $7 per share in cash and a $7 per share contingent value right. The firm sees the valuation of the deal as “highly favorable” for Regulus, especially given financing overhang ahead of the Phase 3 trial.
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 – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RGLS:
- Regulus Announces Merger Agreement with Novartis
- Regulus to be acquired by Novartis for $7.00 per share in cash
- Promising Phase 1b Results and Favorable Safety Profile Position Regulus’s Farabursen as a Strong Investment in ADPKD Treatment
- Promising Phase 1b Results and Future Prospects Drive Buy Rating for Regulus’s Farabursen
- Wells upgrades Regulus to Overweight after farabursen data reported
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue