Akorn Sets New 1-Year High at $37.98 (AKRX)
Akorn (NASDAQ:AKRX)’s share price hit a new 52-week high on Monday , Analyst Ratings News reports. The stock traded as high as $37.98 and last traded at $37.75, with a volume of 641,394 shares trading hands. The stock had previously closed at $36.24.
A number of analysts have recently weighed in on AKRX shares. Analysts at Zacks upgraded shares of Akorn from a “neutral” rating to an “outperform” rating in a research note on Monday, August 11th. They now have a $36.90 price target on the stock. Separately, analysts at Jefferies Group raised their price target on shares of Akorn from $31.00 to $40.00 in a research note on Wednesday, August 6th. Finally, analysts at Piper Jaffray raised their price target on shares of Akorn from $33.00 to $45.00 in a research note on Wednesday, August 6th. They now have an “overweight” rating on the stock. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Akorn has an average rating of “Buy” and an average target price of $35.30.
The stock has a 50-day moving average of $34.28 and a 200-day moving average of $27.29. The company has a market cap of $3.934 billion and a P/E ratio of 89.70.
Akorn (NASDAQ:AKRX) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.25 EPS for the quarter, beating the Thomson Reuters 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 last year, the company posted $0.14 earnings per share. Akorn’s revenue was up 95.7% compared to the same quarter last year. On average, analysts predict that Akorn will post $1.00 earnings per share for the current fiscal year.
In other Akorn news, CEO Rajat Rai sold 903,659 shares of Akorn stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $33.62, for a total transaction of $30,381,015.58. The sale was disclosed in a document filed with the SEC, which is available at this link.
Akorn, Inc (NASDAQ:AKRX) 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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