Roth Capital analyst Boobalan Pachaiyappan downgraded Avidity Biosciences (RNA) to Neutral from Buy with a $72 price target after the company entered into a definitive merger agreement to be acquired by Novartis (NVS) for $72 per share in cash. The firm adds however that does not rule out competing bids from large pharma, including AbbVie (ABBV), BMS, Eli Lilly (LLY), Merck (MRK), Pfizer (PFE) and Sanofi (SNY).
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Read More on RNA:
- Avidity Biosciences downgraded to Hold from Buy at Needham
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- Avidity Biosciences downgraded to Market Perform from Strong Buy at Raymond James
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- Avidity Biosciences downgraded to Neutral from Buy at H.C. Wainwright