Avidity Biosciences Soars After $72 Per Share Novartis Takeover

Avidity Biosciences, Inc. (NASDAQ:RNA) stock surged after announcing a $12 billion all-cash acquisition by Novartis AG (NYSE:NVS), marking one of the largest biotech buyouts of the year.Analyst Downgrade Matches $72 Per Share OfferH.C. Wainwright analysts led by Ananda Ghosh downgraded Avidity Biosciences to Neutral from Buy and set a $72 price forecast, matching the cash offer from Novartis AG.The analysts’ move follows Avidity’s announcement that it will be acquired by Novartis for $72 per share, valuing ...