$0.24 Earnings Per Share Expected for Akorn, Inc. (AKRX) This Quarter
Equities analysts expect Akorn, Inc. (NASDAQ:AKRX) to announce $0.24 earnings per share for the current quarter, according to Zacks. Two analysts have made estimates for Akorn’s earnings, with the highest EPS estimate coming in at $0.26 and the lowest estimate coming in at $0.21. Akorn reported earnings per share of $0.56 in the same quarter last year, which indicates a negative year over year growth rate of 57.1%. The business is scheduled to announce its next quarterly earnings results on Monday, January 1st.
According to Zacks, analysts expect that Akorn will report full-year earnings of $1.12 per share for the current financial year, with EPS estimates ranging from $0.95 to $1.23. For the next fiscal year, analysts expect that the company will report earnings of $1.28 per share, with EPS estimates ranging from $1.03 to $1.52. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Akorn.
A number of equities analysts have recently commented on AKRX shares. BidaskClub upgraded Akorn from a “hold” rating to a “buy” rating in a report on Saturday, June 24th. Royal Bank Of Canada set a $34.00 target price on Akorn and gave the stock a “hold” rating in a report on Tuesday, June 27th. Jefferies Group LLC reiterated a “hold” rating and issued a $34.00 target price on shares of Akorn in a report on Wednesday, July 19th. TheStreet cut Akorn from a “b-” rating to a “c” rating in a report on Tuesday, August 1st. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $34.00 target price on shares of Akorn in a report on Thursday, August 10th. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $28.56.
In other Akorn news, COO Bruce Kutinsky sold 40,000 shares of Akorn stock in a transaction on Thursday, August 3rd. The stock was 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 directly owns 317,480 shares of the company’s stock, valued at approximately $10,622,880.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Brian Tambi sold 5,165 shares of Akorn stock in a transaction on Friday, August 4th. The shares were sold at an average price of $33.37, for a total value of $172,356.05. The disclosure for this sale can be found here. 28.20% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its position in Akorn by 2.4% during the 2nd quarter. BlackRock Inc. now owns 9,297,346 shares of the company’s stock valued at $311,834,000 after purchasing an additional 216,363 shares in the last quarter. Vanguard Group Inc. raised its position in Akorn by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 7,121,766 shares of the company’s stock valued at $238,865,000 after purchasing an additional 176,397 shares in the last quarter. FMR LLC raised its position in Akorn by 22.1% during the 2nd quarter. FMR LLC now owns 4,347,905 shares of the company’s stock valued at $145,829,000 after purchasing an additional 786,908 shares in the last quarter. Pentwater Capital Management LP bought a new stake in Akorn during the 2nd quarter valued at $132,148,000. Finally, CNH Partners LLC bought a new stake in Akorn during the 2nd quarter valued at $116,243,000. 69.98% of the stock is owned by institutional investors and hedge funds.
Shares of Akorn (NASDAQ:AKRX) opened at 32.90 on Thursday. Akorn has a 52-week low of $17.61 and a 52-week high of $34.00. The company has a 50-day moving average of $32.90 and a 200 day moving average of $32.20. The firm has a market cap of $4.11 billion, a P/E ratio of 33.23 and a beta of 1.40.
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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