Needham & Company Downgrades Chelsea Therapeutics (CHTP) to Hold on Pending Takeover
- Wall Street falls with financials, other post-election gainers
- The FTC Confirms Antitrust Charges Against Qualcomm (QCOM) for Monopolizing Semiconductor Device Used in Cell Phones
- United Airlines (UAL) Tops Q4 EPS by 5c
- Obama shortens sentence of Manning, who gave secrets to WikiLeaks
- After-Hours Stock Movers 01/17: (SHLO) Higher; (GIMO) (AFAM) (CSX) Lower (more...)
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
- UPDATE: JPMorgan Downgrades OneMain (OMF) to Neutral
- Deutsche Bank Starts Bio-Rad Labs (BIO) at Hold
- Wedbush Raises Price Target on Trex (TREX) to $58; Reiterates Neutral
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!