Cantor Fitzgerald Downgrades Nightstar Therapeutics (NITE) to Neutral

Cantor Fitzgerald analyst Elemer Piros downgraded Nightstar Therapeutics (NASDAQ: NITE) from Overweight to Neutral with a price target of $25.50 (from $42.00).

• "This morning, Nightstar announced a definitive agreement to be acquired by Tungsten Bidco Limited, a subsidiary of Biogen (BIIB - OW by A. Young) for $877 million, or $25.50/share in cash (a 68% premium to 3/1 close). The transaction is expected to be complete by mid-2019. Last week following the ONCE (N) / RHHBY (NC) acquisition,we saw Nightstar as a company of interest in acquisition talks and interest from pharma (link to note). This was driven by NITE's late-stage gene therapy pipeline, and our thoughts that NSR-REP1 could be the next ocular gene therapy approved in the U.S."

For an analyst ratings summary and ratings history on Nightstar Therapeutics click here. For more ratings news on Nightstar Therapeutics click here.

Shares of Nightstar Therapeutics closed at $15.16 yesterday.

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