Wall Street analysts expect Akorn (NASDAQ:AKRX) to post earnings per share of $0.15 for the current quarter, according to Zacks. Two analysts have issued estimates for Akorn’s earnings, with estimates ranging from $0.14 to $0.15. Akorn reported earnings per share of $0.43 during the same quarter last year, which would indicate a negative year over year growth rate of 65.1%. The business is scheduled to issue its next earnings report on Monday, January 1st.
According to Zacks, analysts expect that Akorn will report full year earnings of $0.68 per share for the current year, with EPS estimates ranging from $0.65 to $0.71. For the next fiscal year, analysts expect that the company will post earnings of $0.66 per share, with EPS estimates ranging from $0.60 to $0.71. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Akorn.
A number of analysts recently weighed in on the stock. BidaskClub raised shares of Akorn from a “hold” rating to a “buy” rating in a research note on Monday, June 18th. TheStreet lowered shares of Akorn from a “c-” rating to a “d” rating in a research note on Friday, May 4th. ValuEngine lowered shares of Akorn from a “hold” rating to a “sell” rating in a research note on Friday, May 11th. Deutsche Bank reaffirmed a “hold” rating on shares of Akorn in a research note on Monday, April 30th. Finally, Royal Bank of Canada set a $25.00 price objective on shares of Akorn and gave the stock a “hold” rating in a research note on Thursday, March 29th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $28.20.
NASDAQ:AKRX traded up $0.27 during mid-day trading on Friday, reaching $16.03. The company’s stock had a trading volume of 12,434,168 shares, compared to its average volume of 1,766,125. Akorn has a 1 year low of $10.76 and a 1 year high of $33.73. The firm has a market cap of $1.97 billion, a PE ratio of 9.79, a price-to-earnings-growth ratio of 1.29 and a beta of 1.71. The company has a debt-to-equity ratio of 1.01, a current ratio of 4.64 and a quick ratio of 3.37.
Several hedge funds have recently added to or reduced their stakes in the business. Polar Asset Management Partners Inc. lifted its position in shares of Akorn by 8.6% during the first quarter. Polar Asset Management Partners Inc. now owns 190,000 shares of the company’s stock valued at $3,555,000 after buying an additional 15,000 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Akorn by 3.0% during the first quarter. Principal Financial Group Inc. now owns 397,685 shares of the company’s stock valued at $7,441,000 after buying an additional 11,468 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Akorn by 14.8% during the first quarter. Legal & General Group Plc now owns 98,171 shares of the company’s stock valued at $1,837,000 after buying an additional 12,647 shares during the last quarter. Alpine Global Management LLC purchased a new stake in shares of Akorn during the first quarter valued at about $936,000. Finally, Nexthera Capital LP purchased a new stake in shares of Akorn during the first quarter valued at about $9,439,000. 65.50% of the stock is owned by institutional investors and hedge funds.
Akorn Company Profile
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.
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