Akorn, Inc. (AKRX) Expected to Post Earnings of $0.02 Per Share

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Equities analysts predict that Akorn, Inc. (NASDAQ:AKRX) will post earnings per share of $0.02 for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Akorn’s earnings, with the highest EPS estimate coming in at $0.07 and the lowest estimate coming in at ($0.07). The firm is scheduled to issue its next earnings results before the market opens on Thursday, February 28th.

On average, analysts expect that Akorn will report full year earnings of $0.02 per share for the current financial year, with EPS estimates ranging from ($0.10) to $0.13. For the next fiscal year, analysts forecast that the company will post earnings of $0.12 per share, with EPS estimates ranging from ($0.30) to $0.46. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that follow Akorn.

AKRX has been the subject of several recent research reports. BidaskClub lowered shares of Akorn from a “strong-buy” rating to a “buy” rating in a report on Friday, December 7th. Piper Jaffray Companies set a $9.00 target price on shares of Akorn and gave the company a “buy” rating in a research report on Tuesday, November 27th. Craig Hallum set a $11.00 price target on shares of Akorn and gave the stock a “buy” rating in a research note on Sunday, December 9th. Royal Bank of Canada set a $9.00 target price on shares of Akorn and gave the stock a “hold” rating in a research note on Wednesday, November 7th. Finally, Zacks Investment Research raised Akorn from a “sell” rating to a “hold” rating in a report on Thursday, December 13th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $13.67.

AKRX stock traded up $0.11 during trading on Friday, reaching $4.44. The company had a trading volume of 1,191,964 shares, compared to its average volume of 2,378,275. Akorn has a twelve month low of $3.14 and a twelve month high of $31.98. The company has a current ratio of 3.47, a quick ratio of 2.46 and a debt-to-equity ratio of 1.26.

In related news, EVP Joseph Bonaccorsi bought 25,000 shares of the business’s stock in a transaction dated Friday, December 14th. The shares were bought at an average cost of $4.48 per share, with a total value of $112,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.50% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northern Trust Corp raised its holdings in Akorn by 75.7% in the 2nd quarter. Northern Trust Corp now owns 1,409,291 shares of the company’s stock valued at $23,379,000 after acquiring an additional 607,101 shares in the last quarter. First Midwest Bank Trust Division raised its stake in Akorn by 203.7% during the 3rd quarter. First Midwest Bank Trust Division now owns 133,049 shares of the company’s stock worth $1,727,000 after buying an additional 89,237 shares during the period. Alps Advisors Inc. raised its stake in shares of Akorn by 22.9% in the 3rd quarter. Alps Advisors Inc. now owns 222,000 shares of the company’s stock valued at $2,882,000 after purchasing an additional 41,417 shares during the period. Engineers Gate Manager LP acquired a new stake in shares of Akorn in the third quarter valued at about $3,622,000. Finally, Serengeti Asset Management LP bought a new position in Akorn during the third quarter worth about $2,856,000. Institutional investors own 66.07% of the company’s stock.

About Akorn

Akorn, Inc, a specialty generic pharmaceutical company, develops, manufactures, and markets generic and branded prescription pharmaceuticals, over-the-counter (OTC) consumer health products, and animal health pharmaceuticals in the United States and internationally. The company operates in two segments, Prescription Pharmaceuticals and Consumer Health.

Further Reading: How to interpret a stock’s beta number

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