Caris Downgrades Noven Pharma (NOVN) to Neutral
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Caris & Co. downgrades Noven Pharmaceuticals (Nasdaq: NOVN) from Buy to Neutral.
The downgrade follows news yesterday that the company will be acquired by Hisamitsu for $16.50/share. The stock surged more than 22% on the news yesterday.
At least one other research firm has issued a downgrade on shares of Noven today. To stay up-to-date on all the analyst calls on the stock, click here or go to http://www.streetinsider.com/stock_lookup_news.php?q=novn&type=analyst.
Noven Pharmaceuticals, Inc. engages in the research, development, manufacture, licensing, marketing, and sale of prescription pharmaceutical products.
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