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Fly News Breaks for November 7, 2016
AKRX
Nov 7, 2016 | 13:54 EDT
Deutsche Bank analyst Gregg Gilbert upgraded Akorn to Buy from Hold citing valuation with the shares down 20% since the company's Q3 results on November 3. The analyst likes the setup for shares in part due to management's confidence in clearing the Decatur injectables facility. As far as Gilbert knows, Akorn has not been notified that it is a subject in the Department of Justice's investigation into suspected price collusion of generic drugs. Gilbert keeps a $28 price target for Akorn shares. BofA/Merrill double downgraded the drugmaker this morning to Underperform from Buy. The stock in afternoon trading is up 67c to $20.35.
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