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.

ILLEGAL ACTIVITY NOTICE: This piece was posted by American Banking News and is owned by of American Banking News. If you are reading this piece on another site, it was stolen and reposted in violation of U.S. and international copyright & trademark legislation. The legal version of this piece can be read at https://www.americanbankingnews.com/2017/10/05/0-24-earnings-per-share-expected-for-akorn-inc-akrx-this-quarter.html.

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.

Get a free copy of the Zacks research report on Akorn (AKRX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Akorn Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akorn Inc. and related companies with MarketBeat.com's FREE daily email newsletter.