H.C. Wainwright analyst Emily Bodnar downgraded Dice Therapeutics (DICE) to Neutral from Buy with a $48 price target after Eli Lilly (LLY) announced that it will acquire all outstanding shares of Dice for $48 in cash. The firm believes the acquisition reflects Lilly’s views that DC-806 could be a best-in-class oral IL-17 inhibitor for psoriasis and believes that Lilly could provide the necessary resources to bring DC-806 and DC-853 through additional trials and potentially to the commercial stage.
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Published first on TheFly
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Read More on DICE:
- Dice Therapeutics downgraded to Hold from Buy at Stifel
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- Dice Therapeutics downgraded to Hold from Buy at Canaccord
- Dice Therapeutics price target raised to $48 from $38 at Wells Fargo