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AKRX

Akorn

$18.88

0.17 (0.91%)

14:25
08/14/18
08/14
14:25
08/14/18
14:25

Akorn call volume above normal and directionally bullish

Bullish option flow detected in Akorn with 4,481 calls trading, 1.4x expected, and implied vol increasing over 8 points to 160.05%. Sep-18 20 calls and Dec-18 27.5 calls are the most active options, with total volume in those strikes near 2,600 contracts. The Put/Call Ratio is 0.15. Earnings are expected on October 31st.

AKRX Akorn
$18.88

0.17 (0.91%)

04/27/18
RBCM
04/27/18
NO CHANGE
Target $25
RBCM
Sector Perform
RBC still sees path to closing of Akorn takeover by Fresenius
After reviewing the Akorn's (AKRX) legal complaint against Fresenius SE (FSNUY), RBC Capital analyst Randall Stanicky still sees a path for the deal to close. "We are not yet convinced that issues raised so far are at the level of deal break," Stanicky tells investors in a research note. There "clearly appears" to be data integrity issues at Akorn, but do they constitute a level of materiality that would allow the deal to be broken, Stanicky wonders. The analyst has a Sector Perform rating on Akorn shares with a $25 price target. The stock in midday trading is up 8% to $14.69. He expects Fresenius to respond to Akorn in court and for the process to take between one and three months.
04/30/18
DBAB
04/30/18
NO CHANGE
DBAB
Hold
Akorn complaint represents only one side, says Deutsche Bank
Deutsche Bank analyst Gregg Gilbert says that while Akorn's (AKRX) complaint against Fresenius (FSNUY) for breach of contract "includes some interesting tidbits," it is important to note that it represents the view of only one side in the dispute. Regarding the allegations of data integrity issues, the complaint notes that the investigations uncovered discrete occurrences of data integrity challenges but characterizes these as commonplace in the industry and which Akorn has already begun to remediate, Gilbert tells investors in a research note. The complaint also suggests that Fresenius did not become concerned about the anonymous allegations until after Akorn's business began to face significant pressure, the analyst adds. He keeps a Hold rating on Akorn.
05/24/18
RBCM
05/24/18
NO CHANGE
RBCM
Outperform
RBC still believes Akorn takeover by Fresenius can close
After speaking with a legal expert "well-versed in Delaware law," RBC Capital analyst Randall Stanicky says he still has not heard anything that makes him believe Akorn's (AKRX) takeover by Fresenius SE (FSNUY) cannot close. While the outcome remains high risk and debate will continue, Akorn shares have high potential reward relative to the closing deal price of $34 per share, Stanicky tells investors in a research note. The legal expert the analyst spoke to expects a reasonably quick trial from Chancery Judge Laster with the decision likely in July. An appeal would go to the Delaware Supreme Court and could last several months, but expectations are that the trial decision will be "tough" to reverse given this is an issue of fact, the analyst adds. Stanicky has a Sector Perform rating on Akorn shares with a $25 price target.
07/03/18
DBAB
07/03/18
NO CHANGE
DBAB
Akorn upside/downside 'looks interesting' into trial, says Deutsche Bank
The breach of contract case in the Delaware Chancery Court between Akorn (AKRX) and Fresenius (FSNUY) is scheduled to go to trial on July 9, Deutsche Bank analyst Gregg Gilbert tells investors in a research note. Akorn is seeking a ruling that Fresenius be required to complete its acquisition per the merger agreement, which Fresenius purported to terminate in April. The analyst believes the upside versus downside profile for Akorn from the current price is worth considering. He sees three potential scenarios: Fresenius is required to acquire Akorn for $34 per share, representing 102% upside; the deal breaks and Akorn trades down to single digits on a standalone basis, or 69% downside; the companies settle for a price below $34 but well above the current stock price, which could yield more upside than downside, the analyst believes. Gilbert believes Akorn's upside/downside "looks interesting" ahead of the key event.

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TKC

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FCCY

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QUMU

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