Rodman & Renshaw Downgrades Pharmacopeia (PCOP) to Market Perform
PCOP Hot Sheet
Rating Summary:0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 14 | Down: 7 | New: 18
Rodman & Renshaw downgrades Pharmacopeia (Nasdaq: PCOP) from Market Outperform to Market Perform.
Rodman analyst says, "On Wednesday September 24th, Ligand Pharmaceuticals (LGND) agreed to acquire Pharmacopeia agreed to acquire Pharmacopeia for consideration of $55MM. Also, Contingent Value Rights (CVRs), currently valued at an additional $15MM, will be paid to PCOP shareholders in the event that LGND agrees to partner lead compound PS433540 (DARA) by 2011."
Pharmacopeia, Inc. is a clinical development stage biopharmaceutical company dedicated to discovering and developing small molecule therapeutics to address medical needs.
Rodman analyst says, "On Wednesday September 24th, Ligand Pharmaceuticals (LGND) agreed to acquire Pharmacopeia agreed to acquire Pharmacopeia for consideration of $55MM. Also, Contingent Value Rights (CVRs), currently valued at an additional $15MM, will be paid to PCOP shareholders in the event that LGND agrees to partner lead compound PS433540 (DARA) by 2011."
Pharmacopeia, Inc. is a clinical development stage biopharmaceutical company dedicated to discovering and developing small molecule therapeutics to address medical needs.
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