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FSNUY

Fresenius SE

$21.76

-0.07 (-0.32%)

, AKRX

Akorn

10:25
07/19/17
07/19
10:25
07/19/17
10:25

Akorn to host special shareholder meeting

July 19 at Special Shareholder Meeting to vote on the agreement whereby the Company will be acquired by Fresenius SE will be held in Lake Forest, IL on July 19 at 11 am.

FSNUY

Fresenius SE

$21.76

-0.07 (-0.32%)

AKRX

Akorn

  • 19

    Jul

FSNUY Fresenius SE
$21.76

-0.07 (-0.32%)

04/25/17
CHLM
04/25/17
DOWNGRADE
Target $34
CHLM
Hold
Akorn downgraded to Hold from Buy at Craig-Hallum
Craig-Hallum analyst Matt Hewitt downgraded Akorn (AKRX) to Hold from Buy, with a $34 price target, after the announcement that it has agreed to sell the company to Fresenius (FSNUY) for $34 per share in cash and the assumption of about $450M in debt. While the analyst would have liked to have seen Akorn sell for more, the deal still creates "significant value" for many shareholders and is a strategically complementary marriage that makes sense for both sides.
04/25/17
PIPR
04/25/17
DOWNGRADE
Target $34
PIPR
Neutral
Akorn downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray analyst David Amsellem downgraded Akorn (AKRX) to Neutral citing the takeover by Fresenius SE (FSNUY). The analyst believes the transaction price is reasonable and does not expect another suitor coming in at a dramatically higher price point. He raised his price target for Akorn shares to $34 from $29.
04/10/17
WBLR
04/10/17
NO CHANGE
WBLR
William Blair puts Akorn takeout range at $36-$48 per share
William Blair analyst Tim Lugo believes comparable deals put Akorn's (AKRX) takeout value between $36 and $48 per share. The stock in premarket trading is up $3.72 to $33.49 after the company confirmed it is in takeover talks with Fresenius SE (FSNUY). Lugo adds, however, that pricing dynamics in the generic sector make the upper end of the potential buyout range unlikely. He notes Akorn's largest shareholder, Dr. John Kapoor, is chairman of the board and also a major shareholder in Insys Therapeutics (INSY). He's most important decision maker in a potential deal, Logo contends. The analyst keeps an Outperform rating on Akorn.
04/10/17
JEFF
04/10/17
NO CHANGE
Target $24
JEFF
Buy
Fresenius makes sense as potential buyer for Akorn, says Jefferies
Jefferies analyst David Steinberg views Akorn (AKRX) as a "logical takeout candidate" and feels Fresenius SE (FSNUY) makes sense as a potential buyer. The analyst has long viewed Akorn as an attractive acquisition candidate given its "high margin, niche generics business and deep maturing pipeline." One could argue the company could command a 4.5-5 times revenue multiple or an implied takeover price of $36-$40 per share, Steinberg tells investors in a research, mimicking his counterpart Chris Cooper who covers Fresenius as Jefferies. Steinberg keeps a Buy rating on Akorn with a $24 price target.
AKRX Akorn

04/25/17
04/25/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Amazon.com (AMZN) downgraded to Market Perform from Outperform at Raymond James with analyst Aaron Kessler saying the shares are fairly valued after rallying 21% this year and 44% over the last 12 months. The analyst expects Amazon's investment levels to remain elevated in the near-term and he views consensus operating income estimates for the second quarter as aggressive. 2. General Electric (GE) downgraded to Neutral from Buy at BofA/Merrill with analyst Andrew Obin saying he sees headwinds from weaker Oil & Gas margin, Healthcare, and Power and reduced estimates below consensus. 3. Conagra Brands (CAG) downgraded to Sell from Neutral at UBS with analyst Steven Strycula citing expectations the stock's relative valuation premium will contract amid a decelerating rate of margin improvement and "limited room" for positive earnings estimate revisions. Conagra's portfolio is not well positioned for a consolidating merchandise set, the analyst contends. He cut his price target for the shares to $35 from $38. 4. NGL Energy Partners (NGL) downgraded to Market Perform from Outperform at FBR Capital with analyst Robert Balsamo saying the company's guidance reflects underappreciated risks to its cash flows. 5. Akorn (AKRX) was downgraded to Hold from Buy at Jefferies and Craig-Hallum, to Market Perform from Outperform at William Blair, and to Neutral from Overweight at Piper Jaffray. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/25/17
WBLR
04/25/17
DOWNGRADE
WBLR
Market Perform
Akorn downgraded to Market Perform from Outperform at William Blair
William Blair analyst Tim Lugo downgraded Akorn to Market Perform saying that while the price paid by Fresenius Kabi was below his $36-$48 per share expectation, the buyout agreement "represents reasonable value" for long-term shareholders. The analyst believes the transaction will likely close at the negotiated price.
04/25/17
JEFF
04/25/17
DOWNGRADE
Target $34
JEFF
Hold
Akorn downgraded to Hold from Buy at Jefferies
Jefferies analyst David Steinberg downgraded Akorn (AKRX) to Hold citing a low probability of competitive takeover bids since the story of the deal talks broke 17 days ago. The analyst raised his price target for Akorn shares to $34 to reflect the Fresenius (FSNUY) buyout agreement.

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