ID Biomedical cut by JMP to market perform

ID Biomedical Corp. was downgraded by JMP Securities analyst Adam Cutler to market perform from strong buy following its merger agreement with GlaxoSmithKline plc for C$35 per share. In Toronto, ID Biomedical shares Thursday were down C$0.06, or 0.17%, at C$34.99 on volume of 2,570,737 shares versus the three-month running average of 131,908 shares. In the United States, ID Biomedical shares Thursday were up $0.11, or 0.37%, at $29.57 on volume of 2,760,491 shares versus the three-month running average of 543,175 shares.

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