Collins Stewart Downgrades Third Wave Technologies (TWTI) to Hold

June 10, 2008 12:24 PM EDT

Collins Stewart downgrades Third Wave Technologies (Nasdaq: TWTI) to Hold.

The firm said that the market has boosted shares of Third Wave to within 1% of its price target on the back of Hologic's announcement that it will acquire the company for $11.25 per share. Collins Stewart believes that "unlike Cytyc's 2002 bid to acquire Digene that was blocked by the FTC, we expect the Hart-Scott-Rodino Act process in this case to conclude without issue."

Third Wave Technologies, Inc. engages in the development and marketing of molecular diagnostic products for various DNA and RNA analysis applications.


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