Barclays analyst Peter Lawson downgraded SpringWorks Therapeutics (SWTX) to Equal Weight from Overweight with a price target of $47, down from $63, following the announced acquisition of SpringWorks by Merck KGaA (MKGAY). The transaction is expected to close in the second half of the year and the firm sees a high likelihood of the transaction closing on time, the analyst tells investors.
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Read More on SWTX:
- SpringWorks Therapeutics downgraded to Neutral from Outperform at Wedbush
- M&A News: Cancer Fighting BioTech SpringWorks Bought by German Firm Merck for $3.9B.
- SpringWorks Therapeutics Merges with Merck for $3.9 Billion
- Strategic Growth and Acquisition Potential: Springworks Therapeutics’ Buy Rating Reinforced by EMA and FDA Milestones
- Merck KGaA to acquire SpringWorks Therapeutics for $47 per share in cash
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