Barclays analysts released that Abbott Laboratories (NYSE:ABT) [Detail Analytic Report] $30.7B acquire of Saint Paul, MN-based medical devices firm will probable close in the 2016 fourth quarter as planned. Barclays analysts stated in a note released this morning that given small overlap in sales, and a lack of obvious additional offerders, they believe merger with ABT is highly likely to close with no major regulatory hurdles.
Analysts did lower rating St. Jude Medical’s stock to “equal weight” from “overweight” on a valuation call following shares rallied when the accord was reported previous month. “While we acknowledge STJ may be worth more to an takeoverr given the potential for synergies and there would be upside from a successful accord, we think that the 6% upside implied in the market presently warrants a downgrade,” analysts explained.
Novavax, Inc. (NASDAQ:NVAX) [Detail Analytic Report] declared that it attained Tech Council of Maryland’s (TCM) Chairman’s Award. The award was reported at the TCM Industry Award Celebration on May 11, 2016. TCM chairman-elect and president and CEO of Iron Bow Technologies, Rene B. LaVigne stated that Novavax is embodiment of what they look for when selecting an honoree for Chairman’s award. The firm has built a successful business, employing 450 people in Maryland who are developing vaccines that positively affect worldwide health, and has played an important role in fostering growth of the state’s life sciences community. “TCM appreciates Novavax’s important contributions to the association, the state’s economy and innovations in healthcare.”
“I am honored to accept this award on behalf of the entire Novavax team,” stated Stanley C. Erck, President and CEO, Novavax. “The Tech Council of Maryland facilitates a collaborative community of technology and life science companies who aim to make an impact in our region and beyond.
This week on Wall Street, Celgene Corporation (NASDAQ:CELG) [Detail Analytic Report]was definitely stealing the show from rest of titans as stock mean recommendation from pool of analysts was 1.8, comparatively equal to last week’s mean recommendation. On a scale of 1-5 (Strong Buy- Sell) stock mean target was for 136.82 while the highest it touched was 162. For current month, out of the pool analysts, 8 recommended for a “Hold” , 21 gave recommendation for “Buy” , 1 analysts gave underperform ratings and 17 gave preference to Strong Buy.