TD Cowen analyst Marc Frahm downgraded Dice Therapeutics (DICE) to Market Perform from Outperform after Eli Lilly (LLY) announced plans to acquire Dice for $48 per share in cash. The firm believes this bid “represents a fair offer” and while Lilly’s ownership of Taltz will raise some questions, it expects the deal to close given Dice is pre-commercial and there is “a long list of competitors” in the psoriasis space.
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Published first on TheFly
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Read More on DICE:
- Dice Therapeutics downgraded to Market Perform from Outperform at SVB Securities
- Dice Therapeutics downgraded to Neutral from Buy at Guggenheim
- Dice Therapeutics downgraded to Neutral from Buy at H.C. Wainwright
- Dice Therapeutics downgraded to Hold from Buy at Stifel
- Dice Therapeutics downgraded to Neutral from Overweight at Cantor Fitzgerald