Needham & Company Downgrades Chelsea Therapeutics (CHTP) to Hold on Pending Takeover
- Wall Street rallies as OPEC reaches output deal
- Pier 1 Imports (PIR) Reports In-Line Q2 EPS; Comps Fall 4.3%
- Intra-Cellular Therapies (ITCI) Announces ITI-007 Phase 3 Missed Primary Endpoint in Schizophrenia
- Vertex Pharma (VRTX) Announces FDA Approval for ORKAMBI in Children 6-11; Lowers 2016 ORKAMBI Revenue Outlook
- After-Hours Stock Movers 09/28: (AEGR) (PIR) (GSAT) Higher; (ITCI) (ATNM) (PRGS) 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: Morgan Stanley Downgrades Shopify (SHOP) to Equalweight Following Recent Gains
- Jefferies Cuts Price Target on Sonic Corp (SONC) to $28 Ahead of 4Q Report
- UBS Cuts Price Target on Nike (NKE) to $67 Following 1Q Report
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!