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Fly News Breaks for October 2, 2018
FSNUY, AKRX
Oct 2, 2018 | 08:08 EDT
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".