Needham & Company Downgrades Chelsea Therapeutics (CHTP) to Hold on Pending Takeover
- Intel (INTC) Tops Q3 EPS by 5c; Q4 Revenue Guidance Comes in Slightly Below Views
- JPMorgan (JPM) Misses Q3 EPS by 9c
- Market Wrap: Job Cuts Aplenty at Twitter; Intel Tops Q3 Expectations; Analysts Get Bearish on GoPro
- Sandisk Corp. (SNDK) said working with banker to explore sale - Bloomberg
- Analysts Not Impressed by Twitter's (TWTR) Cost Cutting
Needham & Company downgraded Chelsea Therapeutics (NASDAQ: CHTP) from Buy to Hold after the company agreed to be acquired by Lundbeck at $6.44 per share (~$530M) with up to $1.50 per share (~$128M) in contingent payments.
"Given share price appreciation and our expectation that there will not be offers from other companies, we are downgrading to HOLD," analyst Alan Carr said.
Shares of Chelsea Therapeutics closed at $6.58 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Piper Jaffray Downgrades GoPro (GPRO) to Neutral Following Latest Teen Survey
- Dell to Acquire EMC Corp. (EMC) for $33.15/Share
- UPDATE: Sterne Agee CRT Upgrades Genesco (GCO) to Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Downgrades
Related EntitiesNeedham & Company
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!