Decibel Therapeutics downgraded to Neutral from Outperform at Baird

Baird analyst Jack Allen downgraded Decibel Therapeutics (DBTX) to Neutral from Outperform with a price target of $5.25, down from $21. The takeover by Regeneron (REGN) for $4.00 per share in cash and an additional $3.50 per share in contingent value rights seems likely to close on schedule, the analyst tells investors in a research note.