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ZTS

Zoetis

$62.21

0.2 (0.32%)

, NVET

Acquired by ZTS 7/17

08:02
07/31/17
07/31
08:02
07/31/17
08:02

Zoetis completes acquisition of Nexvet Biopharma for $6.72 per share

Zoetis (ZTS) and Nexvet Biopharma (NVET) announced that Zoetis has completed the acquisition of Nexvet, a biologic therapeutics company developing a pipeline of monoclonal antibody therapies for companion animals in pain and other therapeutic areas. The acquisition, which was first announced on April 13, strengthens Zoetis' pipeline of solutions for chronic pain management in dogs and cats. It became effective by means of a scheme of arrangement under the Irish Companies Act 2014. Under the terms of the transaction, Nexvet shareholders will receive $6.72 per share representing an aggregate equity valuation of approximately $85M. The Nexvet shareholders will receive the consideration to which they are entitled under the scheme of arrangement within 14 days. With the completion of the acquisition, Nexvet's research programs in the treatment of chronic pain associated with osteoarthritis in dogs and cats, along with other areas, will be integrated into Zoetis' global R&D operation to leverage the company's scale and experience. Nexvet also announced that it requested that trading of its ordinary shares on the NASDAQ Global Market be suspended. Nexvet requested NASDAQ to file Form 25 with the U.S. Securities and Exchange Commission notifying the SEC of the delisting of the ordinary shares on NASDAQ and the deregistration of Nexvet's ordinary shares.

ZTS

Zoetis

$62.21

0.2 (0.32%)

NVET

Acquired by ZTS 7/17

  • 08

    Aug

ZTS Zoetis
$62.21

0.2 (0.32%)

07/25/17
DBAB
07/25/17
DOWNGRADE
DBAB
Hold
Zoetis downgraded to Hold from Buy at Deutsche Bank
07/26/17
DBAB
07/26/17
DOWNGRADE
Target $65
DBAB
Hold
Zoetis downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst Gregg Gilbert downgraded Zoetis to Hold saying the risk/reward is more balanced with the shares up 18% year-to-date. The stock now better reflects the "strong and durable" revenue and earnings growth potential in the "attractive" Animal Health industry, Gilbert tells investors in a research note. The analyst keeps a $65 price target for the shares.
07/26/17
CLVD
07/26/17
NO CHANGE
CLVD
Buy
Zoetis expected to report Q2 upside, says Cleveland Research
Cleveland Research analyst Rob Stuyck expects Zoetis to report Q2 upside driven by increasing demand for Simparica and Apoquel and improved U.S. vet hospital traffic. The analyst is forecasting Q2 earnings of 54c, ahead of consensus of 53c, and maintains a Buy rating.
07/26/17
07/26/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. AMD (AMD) downgraded to Market Perform from Outperform at BMO Capital. 2. Zoetis (ZTS) downgraded to Hold from Buy at Deutsche Bank with analyst Gregg Gilbert saying the risk/reward is more balanced with the shares up 18% year-to-date. 3. CF Industries (CF) downgraded to Neutral from Outperform at Credit Suisse with analyst Christopher Parkinson citing the recent rally in shares. 4. Eli Lilly (LLY) downgraded to Market Perform from Outperform at Leerink with analyst Seamus Fernandez saying that the regulatory update for Olumiant removes upside optionality in rheumatoid arthritis and possibly other indications given concerns over thrombosis risk. 5. Wynn Resorts (WYNN) was downgraded to Hold from Buy at Union Gaming and to Market Perform from Outperform at Telsey Advisory. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
NVET Acquired by ZTS 7/17

04/24/17
FBCO
04/24/17
DOWNGRADE
FBCO
Neutral
Nexvet Biopharma downgraded to Neutral from Outperform at Credit Suisse
04/24/17
04/24/17
DOWNGRADE

Neutral
Nexvet Biopharma downgraded to Neutral at Credit Suisse
As previously reported, Credit Suisse downgraded Nexvet Biopharma (NVET) to Neutral from Outperform following its previously announced acquisition by Zoetis (ZTS) on April 13, currently pending regulatory approval.

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