Equities analysts expect Akorn, Inc. (NASDAQ:AKRX) to report sales of $259.85 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Akorn’s earnings, with estimates ranging from $255.20 million to $267.80 million. Akorn reported sales of $268.35 million in the same quarter last year, which would suggest a negative year over year growth rate of 3.2%. The company is expected to issue its next earnings report on Monday, January 1st.

On average, analysts expect that Akorn will report full-year sales of $259.85 million for the current fiscal year, with estimates ranging from $1.03 billion to $1.06 billion. For the next financial year, analysts forecast that the firm will report sales of $1.09 billion per share, with estimates ranging from $1.03 billion to $1.15 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Akorn.

AKRX has been the subject of several research analyst reports. Royal Bank Of Canada set a $34.00 target price on Akorn and gave the stock a “hold” rating in a research note on Tuesday. BidaskClub upgraded Akorn from a “hold” rating to a “buy” rating in a research note on Saturday, June 24th. Zacks Investment Research upgraded Akorn from a “sell” rating to a “hold” rating in a research note on Monday, May 8th. Gabelli reaffirmed a “hold” rating on shares of Akorn in a report on Tuesday, April 25th. Finally, William Blair cut shares of Akorn from an “outperform” rating to a “market perform” rating in a research report on Tuesday, April 25th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $30.55.

Institutional investors have recently added to or reduced their stakes in the company. NEXT Financial Group Inc raised its position in Akorn by 990.9% in the first quarter. NEXT Financial Group Inc now owns 3,000 shares of the company’s stock worth $100,000 after buying an additional 2,725 shares in the last quarter. Meadow Creek Investment Management LLC increased its stake in Akorn by 8.3% in the first quarter. Meadow Creek Investment Management LLC now owns 4,368 shares of the company’s stock worth $105,000 after buying an additional 336 shares in the last quarter. Glen Harbor Capital Management LLC increased its stake in Akorn by 8.3% in the first quarter. Glen Harbor Capital Management LLC now owns 5,304 shares of the company’s stock worth $128,000 after buying an additional 408 shares in the last quarter. LS Investment Advisors LLC increased its stake in Akorn by 21.8% in the first quarter. LS Investment Advisors LLC now owns 7,850 shares of the company’s stock worth $189,000 after buying an additional 1,407 shares in the last quarter. Finally, Global Financial Private Capital LLC acquired a new stake in Akorn during the first quarter worth about $203,000. 76.31% of the stock is currently owned by institutional investors and hedge funds.

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Akorn (NASDAQ AKRX) traded down 0.045% during trading on Thursday, hitting $33.475. The stock had a trading volume of 544,839 shares. The company has a market capitalization of $4.17 billion, a price-to-earnings ratio of 22.850 and a beta of 1.42. Akorn has a 12-month low of $17.61 and a 12-month high of $35.40. The stock has a 50 day moving average price of $33.26 and a 200 day moving average price of $25.89.

About Akorn

Akorn Inc (Akorn), together with its subsidiaries, is a specialty generic pharmaceutical company that develops, manufactures and markets generic and branded prescription pharmaceuticals, as well as private-label over-the-counter (OTC) consumer health products and animal health pharmaceuticals. The Company operates through two segments: Prescription Pharmaceuticals and the Consumer Health.

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