BMO Capital downgraded Verve Therapeutics (VERV) to Market Perform from Outperform with a $13.50 price target. Verve was downgraded to reflect Eli Lilly’s (LLY) definitive agreement to acquire Verve for up to $1.3B. BMO expects a “smooth” deal closure by Q3 of 2025 given the two companies’ extensive relationship/partnership.
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