Zacks Upgrades Akorn to “Outperform” (AKRX)
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.