H.C. Wainwright downgraded Harpoon Therapeutics (HARP) to Neutral from Buy with a price target of $23, up from $12. Harpoon has agreed to be acquired by Merck (MRK) for $23 per share in cash, or about $680M in total, which represents a premium of 118% on Harpoon’s closing price on January 5, the analyst tells investors in a research note. The firm believes that HPN328, Harpoon’s lead candidate, will remain the key component of the development pipeline going forward.
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Read More on HARP:
- M & A News: Merck (NYSE:MRK) to Acquire Harpoon for $680 Million
- M & A: Merck (NYSE:MRK) Bolsters Oncology Portfolio With Harpoon Deal
- Harpoon Therapeutics initiated with an Outperform at Oppenheimer
- Harpoon Therapeutics Strengthens Leadership Team
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