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Fly News Breaks for April 27, 2015
AKRX
Apr 27, 2015 | 06:44 EDT
Piper Jaffray analyst David Amsellem downgraded Akorn to Neutral after the company announced late Friday that it will need to further restate financials for 2014. Amsellem thinks "significant management changes" are needed in order for Akorn to restore investor credibility. The analyst believes a change at CFO is likely and cut his price target for Akorn shares to $53 from $66. The generic drug maker is down $7.39 to $47.85 in pre-market trading.
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