Akorn, Inc. (AKRX) Releases FY14 Earnings Guidance
Akorn, Inc. (NASDAQ:AKRX) issued an update on its FY14 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.00-1.05 for the period, compared to the Thomson Reuters consensus estimate of $0.85, Analyst Ratings News reports. The company issued revenue guidance of $580-600 million, compared to the consensus revenue estimate of $574.77 million.
Akorn, Inc. (NASDAQ:AKRX) traded up 8.13% on Tuesday, hitting $37.12. 570,787 shares of the company’s stock traded hands. Akorn, Inc. has a 52-week low of $14.61 and a 52-week high of $37.08. The stock has a 50-day moving average of $32.77 and a 200-day moving average of $26.55. The company has a market cap of $3.858 billion and a price-to-earnings ratio of 78.20.
Akorn (NASDAQ:AKRX) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.05. The company had revenue of $150.70 million for the quarter, compared to the consensus estimate of $145.16 million. During the same quarter in the previous year, the company posted $0.14 earnings per share. The company’s revenue for the quarter was up 95.7% on a year-over-year basis. On average, analysts predict that Akorn, Inc. will post $0.85 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on AKRX shares. Analysts at Zacks downgraded shares of Akorn from an outperform rating to a neutral rating in a research note on Friday, July 11th. They now have a $36.90 price target on the stock. On a related note, analysts at Needham & Company LLC raised their price target on shares of Akorn from $30.00 to $36.50 in a research note on Tuesday, July 1st. Finally, analysts at Bank of America reiterated a buy rating on shares of Akorn in a research note on Thursday, June 5th. They now have a $28.00 price target on the stock, down previously from $33.00. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of Hold and a consensus price target of $30.91.
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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