Actavis gets Leerink upgrade, files generic Nucynta ANDA

Leerink upgrades Actavis (ACT +1.8%) to Outperform from Market Perform, dismissing "current overhangs" as "low grade earnings risks."

Price target raised to $155 from $133

ACT files ANDA for a generic version of Janssen's (JNJ +0.3%) Nucynta. Janssen and Grunenthal GMBH file suit to prevent commercialization.

Recent ACT news: Q2 earnings summary.

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