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Fly News Breaks for March 7, 2018
FSNUY, AKRX
Mar 7, 2018 | 05:12 EDT
Piper Jaffray analyst David Amsellem believes fair value for Akorn (AKRX) as a standalone entity is $16 to $18 per share. The analyst updated his model following the company's annual filing but is not opining on whether the Fresenius (FSNUY) transaction will close at the proposed price of $34 per share. "We simply do not have enough insight into the nature of the data integrity issues" regarding Akorn's pipeline products, Amsellem tells investors in a research note. He keeps a Neutral rating on Akorn shares with a $34 price target.
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