Stifel analyst Mathew Blackman downgraded Apollo Endosurgery (APEN) to Hold from Buy with a $10 price target after Boston Scientific (BSX) announced a deal to acquire the company for $10 per share in cash back in November. Citing the recent merger proxy, two other parties expressed interest in Apollo, but neither party made a bid, and at this point, it is unlikely that alternative offers emerge, the analyst tells investors in a research note.
Published first on TheFly
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