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Fly News Breaks for May 18, 2016
AKRX
May 18, 2016 | 12:16 EDT
Craig-Hallum analyst Matt Hewitt says the balance sheet reclassifications in Akorn's recent quarterly filing have "stoked fear and even some selling pressure on the stock." The concerns are unwarranted as Akorn elected to adopt two accounting pronouncements that are non-cash events, Hewitt tells investors in a research note. The analyst sees a buying opportunity at current share levels and reiterates a Buy rating on Akorn with a $40 price target.
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