H.C. Wainwright downgraded Provention Bio (PRVB) to Neutral from Buy with a price target of $25, up from $16, after the company reached an agreement under which Sanofi (SNY) will acquire Provention for $25 per share in cash. Rival bidders are unlikely to emerge, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on PRVB:
- Provention Bio downgraded to Hold from Buy at Jefferies
- Provention Bio downgraded to Neutral from Outperform at SMBC Nikko
- Provention Bio downgraded to Neutral from Overweight at Cantor Fitzgerald
- Provention Bio cancels Q4, FY22 earnings release, conference call
- Provention Bio Soars after Acquisition by Sanofi for $2.9 Billion