Credit Suisse Downgrades Durata Therapeutics (DRTX) to Neutral

Credit Suisse downgraded Durata Therapeutics (NASDAQ: DRTX) from Outperform to Neutral with a price target of $25 (unchanged).

Analyst Jason Kantor said, "In the absences of a higher bid, we expect DRTX shares will continue to trade at a modest premium to the cash take out price of $23 and a slight discount to our calculated $25 value, which includes $2 in value for the CVRs (Exhibit 1). We downgrade our rating to Neutral from Outperform."

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

Shares of Durata Therapeutics closed at $23.75 yesterday.

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