Brokerages predict that Akorn, Inc. (NASDAQ:AKRX) will announce earnings per share (EPS) of $0.10 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Akorn’s earnings. The lowest EPS estimate is $0.07 and the highest is $0.15. The business is scheduled to report its next earnings report on Monday, January 1st.
On average, analysts expect that Akorn will report full-year earnings of $0.39 per share for the current financial year, with EPS estimates ranging from $0.25 to $0.52. For the next year, analysts expect that the firm will report earnings of $0.42 per share, with EPS estimates ranging from $0.20 to $0.60. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for Akorn.
Akorn (NASDAQ:AKRX) last announced its quarterly earnings results on Wednesday, August 1st. The company reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.14). The business had revenue of $190.94 million for the quarter, compared to the consensus estimate of $187.40 million. Akorn had a negative net margin of 24.21% and a negative return on equity of 12.84%.
AKRX has been the subject of several recent analyst reports. BidaskClub lowered shares of Akorn from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 18th. Zacks Investment Research upgraded shares of Akorn from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Monday, August 27th. Deutsche Bank reiterated a “buy” rating on shares of Akorn in a research note on Thursday, August 23rd. Craig Hallum upgraded shares of Akorn from a “hold” rating to a “buy” rating in a research note on Thursday, October 4th. Finally, Jefferies Financial Group reduced their target price on shares of Akorn to $6.00 and set a “hold” rating for the company in a research note on Wednesday, October 3rd. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Akorn currently has a consensus rating of “Buy” and an average price target of $14.83.
AKRX stock traded down $0.25 during midday trading on Tuesday, reaching $6.35. 46,378 shares of the company’s stock traded hands, compared to its average volume of 5,091,166. The company has a debt-to-equity ratio of 1.13, a quick ratio of 2.87 and a current ratio of 3.94. Akorn has a 52 week low of $5.25 and a 52 week high of $33.63.
Several large investors have recently modified their holdings of AKRX. Paulson & CO. Inc. purchased a new stake in Akorn during the second quarter valued at about $29,198,000. Gabelli Funds LLC lifted its holdings in Akorn by 5.1% during the second quarter. Gabelli Funds LLC now owns 777,468 shares of the company’s stock valued at $12,898,000 after purchasing an additional 37,774 shares during the last quarter. BlueMountain Capital Management LLC purchased a new stake in Akorn during the second quarter valued at about $17,053,000. GABELLI & Co INVESTMENT ADVISERS INC. lifted its holdings in Akorn by 4.4% during the second quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 478,248 shares of the company’s stock valued at $7,934,000 after purchasing an additional 20,127 shares during the last quarter. Finally, Kellner Capital LLC lifted its holdings in Akorn by 28.5% during the second quarter. Kellner Capital LLC now owns 72,200 shares of the company’s stock valued at $1,198,000 after purchasing an additional 16,000 shares during the last quarter. 69.70% of the stock is currently owned by institutional investors.
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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