Piper Jaffray Discontinues Coverage On ISPH

Piper Jaffray is discontinuing its coverage on Inspire Pharmaceuticals ISPH as the company has been fully acquired by Merck & Co. MRK. Piper Jaffray most recently rated the stock at Neutral and held a $5 price target on the stock. Says Piper Jaffray, in the report, “Investors should no longer rely on our last published rating, price target, model, or estimates on Inspire, as they will not be updated following the discontinuation of coverage date.” ISPH shareholders received $5 in cash per share after the company's final close this past Friday.