Cantor Fitzgerald analyst Charles Duncan downgraded Cerevel Therapeutics (CERE) to Neutral from Overweight with a price target of $45, up from $38, after AbbVie (ABBV) announced it will acquire Cerevel for $45 per share in cash. The analyst sees limited potential for another suitor to emerge and believes the deal will close as envisioned given non-overlapping assets.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on CERE:
- M & A News: AbbVie (NYSE:ABBV) Doubles Down on Acquisitions, Buys CERE for $8.7B
- AbbVie to Acquire Cerevel Therapeutics in Transformative Transaction to Strengthen Neuroscience Pipeline
- Cerevel Therapeutics to Host Investor Webcast on Tavapadon in Parkinson’s Disease
- Cerevel Therapeutics reinstated with a Neutral at JPMorgan
- Cerevel Therapeutics to Present at Upcoming Investor Conferences
Questions or Comments about the article? Write to editor@tipranks.com