Wall Street analysts forecast that Akorn, Inc. (NASDAQ:AKRX) will report earnings per share (EPS) of $0.10 for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Akorn’s earnings, with the lowest EPS estimate coming in at $0.07 and the highest estimate coming in at $0.15. The business is expected to issue its next earnings results on Monday, January 1st.
On average, analysts expect that Akorn will report full year earnings of $0.39 per share for the current fiscal year, with EPS estimates ranging from $0.25 to $0.52. For the next financial year, analysts anticipate that the business will post earnings of $0.37 per share, with EPS estimates ranging from $0.20 to $0.60. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that follow Akorn.
Akorn (NASDAQ:AKRX) last announced its quarterly earnings data on Wednesday, August 1st. The company reported ($0.06) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.14). Akorn had a negative net margin of 24.21% and a negative return on equity of 12.84%. The business had revenue of $190.94 million during the quarter, compared to analysts’ expectations of $187.40 million.
AKRX has been the topic of several research analyst reports. BidaskClub downgraded Akorn from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 28th. Zacks Investment Research upgraded Akorn from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Monday, August 27th. Deutsche Bank restated a “buy” rating on shares of Akorn in a research report on Thursday, August 23rd. Craig Hallum upgraded Akorn from a “hold” rating to a “buy” rating in a research report on Thursday, October 4th. Finally, Royal Bank of Canada boosted their price objective on Akorn from $25.00 to $27.00 and gave the company a “hold” rating in a research report on Wednesday, July 25th. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $14.17.
Shares of Akorn stock traded down $0.14 during trading hours on Friday, hitting $6.20. The company’s stock had a trading volume of 2,603,123 shares, compared to its average volume of 2,709,113. Akorn has a 12-month low of $5.25 and a 12-month high of $33.63. The company has a debt-to-equity ratio of 1.13, a quick ratio of 2.87 and a current ratio of 3.94.
Several large investors have recently bought and sold shares of the stock. ING Groep NV lifted its position in shares of Akorn by 23.5% in the second quarter. ING Groep NV now owns 14,390 shares of the company’s stock worth $239,000 after buying an additional 2,734 shares in the last quarter. Voya Investment Management LLC lifted its position in shares of Akorn by 8.8% in the second quarter. Voya Investment Management LLC now owns 34,868 shares of the company’s stock worth $578,000 after buying an additional 2,818 shares in the last quarter. Mutual of America Capital Management LLC lifted its position in shares of Akorn by 4.3% in the second quarter. Mutual of America Capital Management LLC now owns 80,620 shares of the company’s stock worth $1,337,000 after buying an additional 3,299 shares in the last quarter. OppenheimerFunds Inc. lifted its position in shares of Akorn by 65.6% in the first quarter. OppenheimerFunds Inc. now owns 13,980 shares of the company’s stock worth $262,000 after buying an additional 5,537 shares in the last quarter. Finally, Riverhead Capital Management LLC purchased a new stake in shares of Akorn in the second quarter worth about $100,000. Institutional investors own 69.81% of the company’s stock.
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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