Truist downgraded Point Biopharma (PNT) to Hold from Buy with a price target of $12.50, down from $13, after the company announced an all-cash takeover by Eli Lilly (LLY) at $12.50 per share. The analyst notes that the acquisition price is a “good deal” for Point Biopharma, though the firm awaits to understand if the transaction involved a competitive process.
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