- Mylan (MYL -1.7%) is suffering through a rough session, underperforming both the broad market and the NASDAQ Biotech Index.
- Earlier, Morgan Stanley downgraded the shares to Equalweight from Overweight and removed a $41 price target.
- Although analyst David Risinger believes the "long-term growth outlook remains robust [thanks in part to] a compelling pipeline of high-value, limited competition opportunities in the U.S.," he steps to the sidelines, saying the "market now better appreciates the strength and durability of Mylan's global platform."