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Fly News Breaks for June 15, 2016
ABBV, INFI
Jun 15, 2016 | 05:49 EDT
Wells Fargo analyst Jim Birchenough downgraded Infinity Pharmaceuticals (INFI) to Market Perform from Outperform saying he sees a high likelihood of AbbVie (ABBV) terminating the collaboration agreement following the disappointing results for duvelisib. The analyst sees a "difficult path forward for the drug" and lowered his price target range for the shares to $1.25-$1.50 from $17-$20.
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