Akorn PT Raised to $36.00 (AKRX)
Investment analysts at RBC Capital upped their price target on shares of Akorn (NASDAQ:AKRX) from $26.00 to $36.00 in a note issued to investors on Wednesday. The firm currently has a “sector perform” rating on the stock. RBC Capital’s target price suggests a potential upside of 3.06% from the stock’s previous close.
Shares of Akorn (NASDAQ:AKRX) opened at 34.93 on Wednesday. Akorn has a 52-week low of $15.17 and a 52-week high of $37.55. The stock has a 50-day moving average of $32.98 and a 200-day moving average of $26.64. The company has a market cap of $3.630 billion and a price-to-earnings ratio of 78.20.
Akorn (NASDAQ:AKRX) last released its 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. Analysts expect that Akorn will post $0.85 EPS for the current fiscal year.
A number of other firms have also recently commented on AKRX. 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. Separately, 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 equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $32.20.
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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