TD Cowen downgraded SpringWorks Therapeutics (SWTX) to Hold from Buy with a price target of $47, down from $66, after the company and Merck KGaA (MKKGY) announced a definitive agreement for Merck KGaA to acquire SpringWorks for $47 per share in cash.
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Read More on SWTX:
- Hold Rating on Merck KGaA’s Acquisition of Springworks: Strategic Fit with Valuation Concerns
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- SpringWorks Therapeutics downgraded to In Line from Outperform at Evercore ISI
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