Ned Davis Research Initiates Coverage on Akorn (AKRX)
Research analysts at Ned Davis Research initiated coverage on shares of Akorn (NASDAQ:AKRX) in a report released on Monday, ARN reports. The firm set a “neutral” rating on the stock.
Shares of Akorn (NASDAQ:AKRX) traded down 1.18% during mid-day trading on Monday, hitting $20.12. The stock had a trading volume of 500,690 shares. Akorn has a one year low of $11.73 and a one year high of $20.60. The stock has a 50-day moving average of $18.35 and a 200-day moving average of $15.21. The company has a market cap of $1.936 billion and a P/E ratio of 49.66.
Akorn (NASDAQ:AKRX) last announced its earnings results on Tuesday, August 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.01. The company had revenue of $77.00 million for the quarter, compared to the consensus estimate of $75.06 million. During the same quarter in the previous year, the company posted $0.12 earnings per share. The company’s revenue for the quarter was up 21.6% on a year-over-year basis. On average, analysts predict that Akorn will post $0.56 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Zacks upgraded shares of Akorn from a “neutral” rating to an “outperform” rating in a research note to investors on Friday. They now have a $22.00 price target on the stock. Separately, analysts at Guggenheim initiated coverage on shares of Akorn in a research note to investors on Thursday, September 26th. They set a “buy” rating on the stock. Finally, analysts at RBC Capital set a $19.00 price target on shares of Akorn in a research note to investors on Thursday, September 5th. They now have a “sector perform” rating on the stock. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $19.67.
Akorn, Inc is a manufacturer and markets a full line of diagnostic and therapeutic ophthalmic pharmaceuticals as well as niche hospital drugs and injectable pharmaceuticals.
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