Akorn Coverage Initiated at RBC Capital (AKRX)
Equities research analysts at RBC Capital began coverage on shares of Akorn (NASDAQ:AKRX) in a research note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm set a “sector perform” rating and a $27.00 price target on the stock. RBC Capital’s price target points to a potential upside of 10.47% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Needham & Company raised their price target on shares of Akorn from $23.00 to $25.00 in a research note to investors on Monday, November 18th. They now have a “buy” rating on the stock. Separately, analysts at Zacks downgraded shares of Akorn from an “outperform” rating to a “neutral” rating in a research note to investors on Tuesday, November 12th. They now have a $23.10 price target on the stock. Finally, analysts at Zacks reiterated a “buy” rating on shares of Akorn in a research note to investors on Sunday, November 10th. They now have a $22.00 price target on the stock. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $23.42.
Akorn (NASDAQ:AKRX) traded up 0.91% on Tuesday, hitting $24.44. 485,095 shares of the company’s stock traded hands. Akorn has a 52 week low of $12.44 and a 52 week high of $26.16. The stock has a 50-day moving average of $24.82 and a 200-day moving average of $19.32. The company has a market cap of $2.355 billion and a price-to-earnings ratio of 60.55.
Akorn (NASDAQ:AKRX) last announced its earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.14 by $0.01. The company had revenue of $81.90 million for the quarter, compared to the consensus estimate of $80.43 million. During the same quarter last year, the company posted $0.12 earnings per share. Akorn’s revenue was up 17.7% compared to the same quarter last year. On average, analysts predict that Akorn will post $0.55 earnings per share for the current fiscal year.
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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