Wachovia Downgrades CollaGenex (CGPI) to Market Perform
CGPI Hot Sheet
Rating Summary:1 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
Wachovia downgrades CollaGenex Pharmaceuticals (Nasdaq: CGPI) from Outperform to Market Perform and has a $16-$17 valuation range on the stock.
The firm's downgrade is related to CollaGenex being acquired by Galderma Pharma for $16.60 per share. Wachovia believes that "a substantially higher bid, while theoretically possible, is a long shot..."
CollaGenex Pharmaceuticals, Inc., a specialty pharmaceutical company, develops and markets proprietary medical therapies to the dermatology market.
The firm's downgrade is related to CollaGenex being acquired by Galderma Pharma for $16.60 per share. Wachovia believes that "a substantially higher bid, while theoretically possible, is a long shot..."
CollaGenex Pharmaceuticals, Inc., a specialty pharmaceutical company, develops and markets proprietary medical therapies to the dermatology market.
You May Also Be Interested In
- UPDATE: UBS Downgrades Wisconsin Energy (WEC) to Neutral; Taking Some Off The Table
- Oppenheimer Downgrades Ituran Location & Control (ITRN) to Perform
- BMO Capital Downgrades Human Genome Sciences (HGSI) to Market Perform
Create E-mail Alert Related Categories
DowngradesRelated Entities
WachoviaSign 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!
