Replies to post #6269 on AVANIR PHARMACEUTICALS (AVNR)

[sts66]

What is this guy smoking? Raises PT to $20 despite saying no other bidders are in sight?

Cowen analyst Ritu Baral maintained an Outperform rating on Avanir Pharmaceuticals (NASDAQ:AVNR) with a $20 price target, following the news that the company has entered into a definitive agreement with Otsuka Pharmaceutical pursuant to which Otsuka will acquire Avanir for $17.00 per share in cash.

Baral observed, “We see this as an underwhelming offer but see no evidence of other bidders before the tender offer begins in 10 business days and the close of the transaction in 1Q15.