Equities research analysts forecast that Akorn, Inc. (NASDAQ:AKRX) will announce sales of $252.74 million for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Akorn’s earnings. The lowest sales estimate is $243.20 million and the highest is $260.83 million. Akorn posted sales of $280.73 million during the same quarter last year, which suggests a negative year over year growth rate of 10%. The firm is expected to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Akorn will report full-year sales of $252.74 million for the current financial year, with estimates ranging from $905.00 million to $1.06 billion. For the next financial year, analysts expect that the business will post sales of $1.07 billion per share, with estimates ranging from $1.00 billion to $1.15 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Akorn.

Several equities research analysts have issued reports on the stock. Jefferies Group LLC reissued a “hold” rating and issued a $34.00 price objective on shares of Akorn in a research report on Wednesday, July 19th. Royal Bank Of Canada set a $34.00 price objective on shares of Akorn and gave the company a “hold” rating in a research report on Sunday, July 30th. BidaskClub cut shares of Akorn from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. TheStreet cut shares of Akorn from a “b-” rating to a “c” rating in a research report on Tuesday, August 1st. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $34.00 price objective on shares of Akorn in a research report on Thursday. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $28.56.

Shares of Akorn (NASDAQ AKRX) traded down 0.03% on Friday, reaching $33.31. 1,781,794 shares of the company traded hands. The stock has a 50-day moving average price of $33.54 and a 200 day moving average price of $29.05. Akorn has a 1-year low of $17.61 and a 1-year high of $34.00. The firm has a market capitalization of $4.16 billion, a P/E ratio of 33.65 and a beta of 1.36.

In other news, Director Brian Tambi sold 5,165 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $33.37, for a total value of $172,356.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Bruce Kutinsky sold 40,000 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $33.46, for a total transaction of $1,338,400.00. Following the completion of the sale, the chief operating officer now owns 317,480 shares of the company’s stock, valued at approximately $10,622,880.80. The disclosure for this sale can be found here. Insiders own 28.20% of the company’s stock.

Large investors have recently bought and sold shares of the stock. State Treasurer State of Michigan raised its stake in Akorn by 0.3% in the first quarter. State Treasurer State of Michigan now owns 35,400 shares of the company’s stock valued at $852,000 after buying an additional 100 shares in the last quarter. Public Employees Retirement Association of Colorado raised its stake in Akorn by 0.8% in the second quarter. Public Employees Retirement Association of Colorado now owns 19,534 shares of the company’s stock valued at $655,000 after buying an additional 158 shares in the last quarter. Pacer Advisors Inc. raised its stake in Akorn by 1.4% in the second quarter. Pacer Advisors Inc. now owns 12,889 shares of the company’s stock valued at $432,000 after buying an additional 180 shares in the last quarter. Mason Street Advisors LLC raised its stake in Akorn by 0.6% in the first quarter. Mason Street Advisors LLC now owns 41,143 shares of the company’s stock valued at $991,000 after buying an additional 226 shares in the last quarter. Finally, Advantus Capital Management Inc raised its stake in Akorn by 2.3% in the first quarter. Advantus Capital Management Inc now owns 11,151 shares of the company’s stock valued at $269,000 after buying an additional 256 shares in the last quarter. Institutional investors and hedge funds own 74.73% of the company’s stock.

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Akorn Company Profile

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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