TD Cowen downgraded Cerevel Therapeutics (CERE) to Market Perform from Outperform with a $45 price target after AbbVie (ABBV) said it will acquire all outstanding shares of Cerevel for $45.00 per share in cash.
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Read More on CERE:
- M & A News: AbbVie (NYSE:ABBV) Doubles Down on Acquisitions, Buys CERE for $8.7B
- Cerevel Therapeutics trading resumes
- AbbVie to Acquire Cerevel Therapeutics in Transformative Transaction to Strengthen Neuroscience Pipeline
- AbbVie to acquire Cerevel Therapeutics for $45.00 per share in cash, or $8.7B
- AbbVie to acquire Cerevel Therapeutics for $45.00 per share in cash