Checkpoint Therapeutics downgraded to Neutral from Buy at H.C. Wainwright

H.C. Wainwright downgraded Checkpoint Therapeutics (CKPT) to Neutral from Buy with a price target of $4.10, down from $20, following the acquisition by Sun Pharmaceuticals. The is “please with the outcome,” noting Checkpoint is being acquired at $4.10 per share and a 70c contingent value right.