Health and Healthcare
Why Juniper Pharmaceuticals Shares Jumped
Published:
Last Updated:
Juniper Pharmaceuticals Inc. (NASDAQ: JNP) shares rallied early on Tuesday after the company announced that it would be acquired by Catalent. The transaction is expected to close in the third quarter of 2018.
Catalent will acquire all outstanding shares of Juniper for $11.50 apiece in a tender offer. The transaction represents a total equity value of approximately $139.6 million on a fully diluted basis and a premium of 59.7% to Juniper’s unaffected share price on January 30, 2018, the last trading day prior to the date on which Juniper announced its intention to explore strategic alternatives.
The transaction also is offering a premium of 32% and 58% to the 50-day and 200-day moving averages of $8.70 and $7.25, respectively.
This deal has been unanimously approved by the Juniper board of directors following the recommendation of a special committee of independent directors. The board believes that this is the culmination of a diligent and extensive process to pursue strategic alternatives in order to maximize shareholder value.
Jonathan Arnold, president of Catalent Oral Drug Delivery, commented:
Juniper’s expertise and capabilities in pharmaceutical services will further support Catalent’s strategic goal to be the comprehensive partner of choice for pharmaceutical innovators. Juniper’s proven scientific expertise in early-phase product development and supply-chain management will help our customers unlock the full potential of their molecules and provide better treatments to patients, faster.
Shares of Juniper traded early Tuesday at $11.40, a gain of about 31% on the day. The consensus analyst price target is $20.00, and a 52-week trading range of $4.30 to $13.25.
24/7 Wall St.Travel Cards Are Getting Too Good To Ignore
Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.
We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.
It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.
We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.