H.C. Wainwright analyst Ed Arce downgraded Albireo Pharma (ALB) to Neutral from Buy with a $42 price target after the company agreed to be acquired by Ipsen (IPSEY) for $42 per share in cash for an initial estimated aggregate consideration of $952M plus one contingent value right, or CVR, worth $10 per CVR payable upon the FDA approval of Bylvay in the Biliary Atresia indication. He anticipates the acquisition to close by the end of Q1, as expected.
Published first on TheFly
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