As previously reported, Wedbush analyst Laura Chico downgraded Chinook Therapeutics (KDNY) to Neutral from Outperform with a $42 price target, given approaching acquisition. Most notable in the Q2 update, Chinook anticipates the forthcoming acquisition by Novartis (NVS) should close in the next week. Recall, Novartis made a bid in June to acquire Chinook for a total consideration of $4B.
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