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Needham & Company LLC upped their price target on shares of Akorn (NASDAQ:AKRX) from $28.00 to $30.00 in a research note issued on Tuesday, AnalystRatingsNetwork reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target would suggest a potential upside of 16.05% from the stock’s previous close.

Akorn (NASDAQ:AKRX) opened at 25.85 on Tuesday. Akorn has a 52 week low of $12.91 and a 52 week 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 P/E ratio of 58.82.

Akorn (NASDAQ:AKRX) last announced its earnings results on Tuesday, May 6th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.10 earnings per share. The company’s revenue for the quarter was up 22.6% on a year-over-year basis. On average, analysts predict that Akorn will post $0.83 earnings per share for the current fiscal year.

A number of other firms have also recently commented on AKRX. Analysts at Guggenheim raised their price target on shares of Akorn from $30.00 to $33.00 in a research note on Tuesday. They now have a “buy” rating on the stock. Separately, analysts at Zacks upgraded shares of Akorn from a “neutral” rating to an “outperform” rating in a research note on Monday. They now have a $27.80 price target on the stock. Finally, 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 research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $27.80.

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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