Market Overview

UPDATE: Bloom Burton Downgrades YM BioSciences to Hold Post Gilead Acquisition

Related YMI
YM Biosciences Wins Final Court Order Approving Plan of Arrangement with Gilead
Benzinga's M&A Chatter for Wednesday December 12, 2012

Bloom Burton lowered its rating on YM BioSciences (NYSE: YMI) from Buy to Hold with a $2.95 price target.

Bloom Burton noted, "We are updating our price target to US$2.95 and rating to Hold after last week's announcement of the acquisition of YM by Gilead Sciences (NASDAQ: GILD). … The deal is expected to close in Q1 2013. The deal contains customary non-solicit provisions, but under certain circumstances, YM can terminate the arrangement and accept an unsolicited superior proposal. Considering YM stated it has conducted a robust process for out-licensing the asset, we expect the deal to close with no other bidders coming to the table."

YM BioSciences closed at $2.89 on Friday.

Latest Ratings for YMI

DateFirmActionFromTo
Feb 2013Bloom Burton & Co.SuspendsHold
Jan 2013JMP SecuritiesDowngradesMarket OutperformMarket Perform
Dec 2012Piper JaffrayDowngradesOverweightNeutral

View More Analyst Ratings for YMI
View the Latest Analyst Ratings

Posted-In: Bloom BurtonAnalyst Color Downgrades Intraday Update Analyst Ratings

 

Related Articles (YMI + GILD)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters