Akorn’s “Buy” Rating Reaffirmed at Jefferies Group (AKRX)
Akorn (NASDAQ:AKRX)‘s stock had its “buy” rating restated by analysts at Jefferies Group in a research report issued to clients and investors on Thursday, StockRatingsNetwork reports. They currently have a $28.00 price objective on the stock. Jefferies Group’s target price would suggest a potential upside of 4.44% from the company’s current price.
In other Akorn news, Director Kenneth Abramowitz sold 2,557 shares of Akorn stock on the open market in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $26.79, for a total value of $68,502.03. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Akorn (NASDAQ:AKRX) remained flat at $26.81 during during mid-day trading trading on Thursday. The stock had a trading volume of 574,050 shares. Akorn has a 1-year low of $12.91 and a 1-year high of $28.00. The stock has a 50-day moving average of $23.72 and a 200-day moving average of $23.57. The company has a market cap of $2.592 billion and a price-to-earnings ratio of 61.07.
Akorn (NASDAQ:AKRX) last released its earnings data on Tuesday, May 6th. The company reported $0.16 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.10 earnings per share. Akorn’s revenue was up 22.6% compared to the same quarter last year. On average, analysts predict that Akorn will post $0.86 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Needham & Company LLC raised their price target on shares of Akorn from $28.00 to $30.00 in a research note on Tuesday. They now have a “buy” rating on the stock. Separately, 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. Finally, 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. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Akorn currently has an average rating of “Buy” and a consensus price target 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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