Akorn’s Buy Rating Reaffirmed at Jefferies Group (AKRX)
Akorn (NASDAQ:AKRX)‘s stock had its “buy” rating reaffirmed by stock analysts at Jefferies Group in a report issued on Tuesday, American Banking & Market News reports. They currently have a $28.00 price target on the stock. Jefferies Group’s price target points to a potential upside of 13.13% from the stock’s previous close.
Akorn (NASDAQ:AKRX) traded up 1.39% during mid-day trading on Tuesday, hitting $24.75. 513,141 shares of the company’s stock traded hands. Akorn has a 52 week low of $12.86 and a 52 week high of $28.00. The stock has a 50-day moving average of $22.6 and a 200-day moving average of $23.11. The company has a market cap of $2.392 billion and a P/E ratio of 53.07.
Akorn (NASDAQ:AKRX) last issued its quarterly earnings data on Monday, March 3rd. The company reported $0.14 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.14. The company had revenue of $85.00 million for the quarter, compared to the consensus estimate of $83.37 million. During the same quarter in the prior year, the company posted $0.13 earnings per share. The company’s quarterly revenue was up 18.9% on a year-over-year basis. Analysts expect that Akorn will post $0.83 EPS for the current fiscal year.
Separately, analysts at Needham & Company LLC raised their price target on shares of Akorn from $25.00 to $28.00 in a research note on Tuesday, March 4th. They now have a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $26.12.
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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