Needham & Company Downgrades Chelsea Therapeutics (CHTP) to Hold on Pending Takeover
- Apple (AAPL) Earnings on Deck; Blow-Out Expected But FX Could Crimp Margin Expansion
- Procter & Gamble (PG) Misses Q2 EPS by 12c; Sees FY15 Core Earnings In-Line to Down Versus Prior Year
- Unusual 11 Mid-Day Movers 1/27: (NFEC) (SIMG) (ADXS) Higher; (STAA) (STRL) (JJSF) Lower
- Caterpillar (CAT) Misses Q4 EPS by 20c; Guides FY15 EPS Well Below the Street
- Fed Can Wait Longer on Rate Hike; Morgan Stanley Pushes Back 'Liftoff' Forecast to March 2016
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: MKM Partners Downgrades Microsoft (MSFT) to Neutral
- Microsoft (MSFT) PT, Estimates Lowered at Piper Jaffray
- UPDATE: Northland Capital Markets Upgrades Support.com (SPRT) to Outperform
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!