UPDATE: Deutsche Bank Downgrades Viropharma on News of Potential Acquisition

In a report published Thursday, Deutsche Bank analyst Robyn Karnauskas downgraded the rating on

from Buy to Hold, but raised the price target from $38.00 to $43.00. In the report, Deutsche Bank noted, “Press sources on 9/13 (Bloomberg) stated that Viropharma has hired an investment bank to work on bids from potential acquirers Shire and Sanofi. We believe that the acquisition of VPHM by either makes sense and is fairly likely. The stock had a big move on this news, and we don't see enough upside from here to encourage accumulation. Separately, we have taken our maribavir chance of success up to 75% from 50% to reflect greater confidence in recent data. Downgrade from Buy to Hold with new TP of $43 (from $38).” Viropharma closed on Wednesday at $40.00.