Shares of specialty pharmaceutical company Supernus Pharmaceuticals (NASDAQ: SUPN) jumped 3.1% in the morning session after Cantor Fitzgerald upgraded the stock to Overweight from Neutral and raised its price target to $42 from $36. The upgrade followed positive developments in the company's planned acquisition of Sage Therapeutics. Supernus announced that the waiting period under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act for the deal had expired. The expiration of this period, a requirement for major mergers and acquisitions in the U.S., removed a key regulatory hurdle, allowing the transaction to proceed. The tender offer for Sage shares was set to expire on July 30, 2025, after which Supernus planned to complete the merger. This acquisition was expected to enhance Supernus's product portfolio with Sage's innovative treatments, a move that likely bolstered analyst confidence.
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