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AKRX

Akorn

$30.28

0.16 (0.53%)

, FSNUY

Fresenius SE

$20.14

0.475 (2.42%)

05:18
02/27/18
02/27
05:18
02/27/18
05:18

Akorn takeover by Fresenius may be in doubt, says Jefferies

The alleged Akorn (AKRX) data breaches by Fresenius SE (FSNUY) may put the terms of the merger agreement in doubt, Jefferies analyst David Steinberg tells investors in a research note. The use of consultants seems to signal Fresenius is looking to reprice or possibly terminate the merger, the analyst contends. He notes, however, that merger experts have generally viewed the transaction as "ironclad." Steinberg keeps a Hold rating on Akorn with a $34 price target.

AKRX

Akorn

$30.28

0.16 (0.53%)

FSNUY

Fresenius SE

$20.14

0.475 (2.42%)

AKRX Akorn
$30.28

0.16 (0.53%)

10/13/17
WELS
10/13/17
NO CHANGE
Target $276
WELS
Outperform
Allergan settlement leaves three Restasis challengers, say Wells Fargo
Wells Fargo analyst David Maris says three Restasis generic challengers remain after Allergan (AGN) reached a settlement with InnoPharma. The settlement, which allows InnoPharma to launch a generic Restasis in the U.S. beginning February 24, 2024, or six months before the expiration of Allergan's patents, points to the complexity of Restasis and the difficulty of getting a generic version approved, Maris tells investors in a research note. InnoPharma was one of four included in a consolidated lawsuit against Allergan, with Teva (TEVA), Mylan (MYL) and Akorn (AKRX) remaining, Maris points out. He's encouraged that the settlement date reached with InnoPharma is close to the expiration date of the patents. The analyst keeps an Outperform rating on Allergan with a $276 price target.
10/16/17
WELS
10/16/17
NO CHANGE
WELS
Outperform
Court ruling looks 'clearly negative' for Allergan, says Wells Fargo
Wells Fargo analyst David Maris says a federal judge ruling today that Allergan's (AGN) Restasis patents are invalid "appears clearly negative" for the company. Due to the magnitude of the potential damages involved, however, an at-risk generic launch is unlikely, Maris tells investors in an intraday research note. As such, the analyst continues to believe the earliest that a generic version of Restasis may enter the market is sometime in 2019. Maris keeps an Outperform rating on Allergan. He adds that today's court ruling is incrementally positive for generic Restasis filers, if approved, including Teva (TEVA), Mylan ( MYL) and Akorn (AKRN).
02/22/18
DBAB
02/22/18
NO CHANGE
DBAB
Hold
Akorn may be worth $9-$17 if Fresenius deal breaks, says Deutsche Bank
A "simple analysis implies significant downside" in shares of Akorn (AKRX) if the Fresenius SE (FSNUY) takeover breaks, Deutsche Bank analyst Gregg Gilbert tells investors in a research note. The analyst notes that since a speech on February 2 by the acting director of the Bureau of Competition at the FTC Bruce Hoffman, where he suggested that in transactions where complex drugs need to be divested, the FTC will require the divestiture of on-market products rather than pipeline products, the deal spread on Akorn's stock price and the $34 per share cash offer price has averaged 7% and is currently close to 8%. Assuming EBITDA multiples of 9-13 times for a standalone Akorn, the stock has a theoretical value of $9-$15 based on the company's Q3 EBITDA annualized and an $11-$17 share price based on estimated 2018 EBITDA, Gilbert writes. He keeps a Hold rating on Akorn with a $34 price target. He believes that the widening spread suggests concerns about the deal.
02/26/18
RAJA
02/26/18
NO CHANGE
RAJA
Market Perform
Akorn takeover by Fresenius 'may be kaput,' says Raymond James
In a research note titled "Die Fusion ist Kaput? Data Integrity Issues Likely Torpedo Fresenius Buy of AKRX," Raymond James analyst Elliot Wilbur believes the data integrity issues at Akorn (AKRX) could not only impact the company's approved products, but also its pipeline. Fresenius (FSNUY) has consistently touted the pipeline as key to the acquisition, which is now likely to be compromised, Wilbur contends. He believes Akorn could be valued at $8 per share if data integrity issues exist and the company's existing portfolio or pipeline are compromised. Akorn's base generics business has seen a "dramatic deterioration" over the past three quarters, Wilbur points out. He keeps a Market Perform rating on the stock.
FSNUY Fresenius SE
$20.14

0.475 (2.42%)

08/29/17
PIPR
08/29/17
NO CHANGE
Target $34
PIPR
Neutral
Piper still sees high likelihood of Akorn deal closing
Piper Jaffray analyst David Amsellem says that while wondering if Fresenius could back out of its planned purchase of Akorn (AKRX) is a fair question given the pressures on the broader generic space, he believes the likelihood of the transaction closing is still high. With that said, Amsellem notes that his analysis suggests a fair valuation for Akorn as a standalone entity is closer to the high-$20's per share. He reiterates a Neutral rating on Akorn with a $34 price target, reflecting the proposed deal price.
11/17/17
UBSW
11/17/17
DOWNGRADE
UBSW
Sell
Fresenius SE downgraded to Sell from Neutral at UBS
UBS analyst Ian Douglas-Pennant downgraded Fresenius SE to Sell saying he expects pricing pressure to spread to injectables. The rate of injectable generic drug approvals in the U.S. has increased 40% over the past year years, and those to compete against Fresenius' Kabi more than tripled, the analyst contends. He cut his price target for the shares to EUR 57 from EUR 74.

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CARB

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JBLU

JetBlue

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PTC

PTC

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PM

Philip Morris

$82.16

-0.17 (-0.21%)

, UNP

Union Pacific

$141.26

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BX

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FFKT

Farmers Capital Bank

$53.50

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APC

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  • 03

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NDLS

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GSBC

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OMAB

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OPTN

Optinose

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RUN

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