Gen-Probe (GPRO) volatility elevated after on sharp sell off

Gen-Probe (Nasdaq: GPRO) Madison Williams maintains their Accumulate rating buy lower their price target to $85 from $90 following the shares selling off on June 6th WSJ headlines that said Novartis (NYSE: NVS) appears to be the last remaining bidder for Gen-Probe and it may still walk away from a potential acquisition. Overall option implied volatility of 42 is above its six-month average of 27 according to Track Data, suggesting larger price movement.

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