UPDATE: Credit Suisse Reiterates On BIND Therapeutics After AMGN Declines Option On Accurin Technology

In a report published Thursday, Credit Suisse analyst Jason Kantor reiterated an Outperform rating on

, but lowered the price target from $21.00 to $20.00. In the report, Credit Suisse noted, “BIND announced that AMGN declined to exercise its option for BIND's Accurin technology following the completion of the collaboration. We had assigned a low 10% probability to the program so its removal has modest impact to our valuation. We are lowering our TP to $20 from $21.” BIND Therapeutics closed on Wednesday at $12.88.