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AKRX

Akorn

$5.69

0.05 (0.89%)

06:57
10/04/18
10/04
06:57
10/04/18
06:57

Akorn upgraded to Buy from Hold at Craig-Hallum

AKRX Akorn
$5.69

0.05 (0.89%)

10/03/18
JEFF
10/03/18
NO CHANGE
Target $6
JEFF
Hold
Jefferies expects Akorn to remain independent, cuts price target to $6 from $34
Jefferies analyst David Steinberg lowered his price target for Akorn (AKRX) to $6 from $34 after Judge Laster ruled in favor of Fresenius (FSNUY), allowing the company to withdraw from its agreement to acquire Akorn. The generic drugmaker closed yesterday up 29c to $5.65. While Akorn will appeal, Steinberg assumes the company will remain independent. The analyst forecasts a quarterly revenue run rate of $175M with annual earnings power in the 35c-40c per share range. In the long-term, if the 64 abbreviated new drug application pipeline remains intact, the business "should grow nicely," Steinberg tells investors in a research note. However, the analyst has near-term concerns about Akorn's "over-reliance on one large product," a lack of drug application filings this year, and its ongoing manufacturing deficiencies. He keeps a Hold rating on the shares.
10/02/18
RBCM
10/02/18
NO CHANGE
Target $10
RBCM
Sector Perform
Akorn price target lowered to $10 from $27 at RBC Capital
RBC Capital analyst Randall Stanicky lowered his price target on Akorn (AKRX) to $10 and kept his Sector Perform rating, saying his bearish case outcome materialized from the Delaware court ruling in favor of Fresenius (FSNUY) in its efforts to terminate its merger agreement with Akorn. The analyst notes that the subsequent price decline reflects the "standalone FDA regulatory concerns and only limited optionality for success on appeal".
10/02/18
PIPR
10/02/18
NO CHANGE
Target $5
PIPR
Neutral
Akorn price target lowered to $5 from $34 at Piper Jaffray
Piper Jaffray analyst David Amsellem lowered his price target for Akorn (AKRX) to $5 from $34 after a Delaware court ruled in favor of Fresenius (FSNUY) in its efforts to terminate its merger agreement with Akorn. While Akorn shares are essentially reflecting the reality that the company will be a stand-alone entity, the current state of the business suggests that there is still potential for further downside, Amsellem tells investors in a research note titled "Apres Fresenius, Le Deluge; Staying Far Away From AKRX Shares." The analyst reiterates a Neutral rating on the shares.
09/12/18
DBAB
09/12/18
NO CHANGE
Target $34
DBAB
Hold
Judge ruling in Akorn case unlikely in coming days, says Deutsche Bank
After dialing into yesterday's teleconference scheduled by Judge Laster to discuss the roadmap ahead for Fresenius SE's (FSNUY) attempt to terminate its acquisition of Akorn (AKRX), Deutsche Bank analyst Gregg Gilbert says he did not hear anything to suggest that the judge is leaning one way or the other. It feels like a ruling is not likely to happen in the coming days, Gilbert tells investors in a research note. The analyst continues to assume a ruling will come by sometime in November. He also believes the judge continues to suggest that he knows he will not have the final say, suggesting that an appeal is inevitable. Gilbert keeps a Hold rating on Akorn with a price target of $34.

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