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Akorn (NASDAQ:AKRX) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research report issued on Monday, AmericanBankingNews.com reports. The firm currently has a $27.80 target price on the stock. Zacks‘s target price points to a potential upside of 7.54% from the company’s current price.

Shares of Akorn (NASDAQ:AKRX) traded up 0.12% during mid-day trading on Monday, hitting $25.85. The stock had a trading volume of 947,528 shares. Akorn has a one year low of $12.91 and a one year high of $28.00. The stock’s 50-day moving average is $23.16 and its 200-day moving average is $23.42. The company has a market cap of $2.500 billion and a price-to-earnings ratio of 58.82.

Akorn (NASDAQ:AKRX) last announced its earnings results on Tuesday, May 6th. The company reported $0.16 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.15 by $0.01. The company had revenue of $90.60 million for the quarter, compared to the consensus estimate of $91.44 million. During the same quarter in the prior year, the company posted $0.10 earnings per share. The company’s quarterly revenue was up 22.6% on a year-over-year basis. Analysts expect that Akorn will post $0.83 EPS for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at Jefferies Group reiterated a “buy” rating on shares of Akorn in a research note on Wednesday, May 7th. They now have a $28.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Akorn has an average rating of “Buy” and a consensus target price of $26.36.

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.

To view Zacks’ full report, visit Zacks’ official website.

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