Credit Suisse Downgrades Pharmacyclics (PCYC) to Neutral

Credit Suisse downgraded Pharmacyclics (NASDAQ: PCYC) from Outperform to Neutral with a price target of $233.00 (from $163.00) on valuation following the recent surge on takeover reports.

Analyst J. Kantor thinks the $17-18 billion target range discussed adequately reflects the value of the Imbruvica franchise.

For an analyst ratings summary and ratings history on Pharmacyclics click here. For more ratings news on Pharmacyclics click here.

Shares of Pharmacyclics closed at $217.82 yesterday.

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