Citi analyst Geof Meacham lowered the firm’s price target on Avidity Biosciences (RNA) to $72 from $75 and keeps a Buy rating on the shares after the company entered into a merger agreement with Novartis for $72 per share. Citi believes a competitive bid is unlikely.
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Read More on RNA:
- Avidity Biosciences downgraded to Market Perform from Strong Buy at Raymond James
- Avidity Biosciences downgraded to Market Perform from Outperform at Bernstein
- Avidity Biosciences downgraded to Neutral from Buy at H.C. Wainwright
- M&A News: Novartis to Acquire Avidity Biosciences in $12B Deal
- Novartis agrees to acquire Avidity for $72 per share in cash