Jefferies analyst Anthony Petrone lowered his price target for Mallinckrodt to $10 from $15 saying the latest Symphony Health prescription data show Acthar declines accelerating to mid-teens since the Centers for Medicare and Medicaid Services announced intentions to reduce the Medicaid base date average manufacturer price in late May. Although Medicaid is only ~10% of Acthar sales, the CMS announcement appears to be having a "chilling effect" on fill rates as the injunctive relief process under the Administrative Procedure Act evolves, Petrone tells investors in a research note. He lowered his estimates to reflect "ongoing uncertainties" and keeps a Hold rating on Mallinckrodt.