Brokerages Anticipate Akorn, Inc. (AKRX) to Post $0.10 EPS

Analysts expect that Akorn, Inc. (NASDAQ:AKRX) will announce earnings per share (EPS) of $0.10 for the current quarter, Zacks reports. Three analysts have provided estimates for Akorn’s earnings, with the highest EPS estimate coming in at $0.15 and the lowest estimate coming in at $0.07. The company is expected to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Akorn will report full-year earnings of $0.39 per share for the current financial year, with EPS estimates ranging from $0.25 to $0.52. For the next fiscal year, analysts forecast that the firm will report earnings of $0.37 per share, with EPS estimates ranging from $0.20 to $0.60. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover Akorn.

Akorn (NASDAQ:AKRX) last announced its earnings results on Wednesday, August 1st. The company reported ($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.14). Akorn had a negative net margin of 24.21% and a negative return on equity of 12.84%. The business had revenue of $190.94 million for the quarter, compared to the consensus estimate of $187.40 million.

Several brokerages recently weighed in on AKRX. BidaskClub downgraded shares of Akorn from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 28th. Royal Bank of Canada raised their price target on shares of Akorn from $25.00 to $27.00 and gave the company a “hold” rating in a research report on Wednesday, July 25th. Deutsche Bank reissued a “buy” rating on shares of Akorn in a research report on Thursday, August 23rd. Zacks Investment Research raised shares of Akorn from a “sell” rating to a “hold” rating in a research report on Monday, July 9th. Finally, Piper Jaffray Companies set a $5.00 price target on shares of Akorn and gave the company a “hold” rating in a research report on Tuesday, October 2nd. Five investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $14.17.

Shares of NASDAQ AKRX opened at $6.32 on Friday. Akorn has a fifty-two week low of $5.25 and a fifty-two week high of $33.63. The company has a quick ratio of 2.87, a current ratio of 3.94 and a debt-to-equity ratio of 1.13.

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. grew its position in Akorn by 30.6% in the 2nd quarter. BlackRock Inc. now owns 10,731,745 shares of the company’s stock worth $178,040,000 after purchasing an additional 2,515,409 shares during the period. Marshall Wace LLP boosted its stake in shares of Akorn by 250.5% during the 2nd quarter. Marshall Wace LLP now owns 2,069,385 shares of the company’s stock worth $34,331,000 after acquiring an additional 1,478,959 shares during the last quarter. Paulson & CO. Inc. purchased a new position in shares of Akorn during the 2nd quarter worth $29,198,000. Natixis boosted its stake in shares of Akorn by 31.3% during the 2nd quarter. Natixis now owns 1,500,471 shares of the company’s stock worth $24,893,000 after acquiring an additional 357,981 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Akorn by 75.7% during the 2nd quarter. Northern Trust Corp now owns 1,409,291 shares of the company’s stock worth $23,379,000 after acquiring an additional 607,101 shares during the last quarter. 69.81% of the stock is owned by institutional investors and hedge funds.

Akorn Company Profile

Akorn, Inc, a specialty generic pharmaceutical company, develops, manufactures, and markets generic and branded prescription pharmaceuticals, over-the-counter (OTC) consumer health products, and animal health pharmaceuticals in the United States and internationally. The company operates in two segments, Prescription Pharmaceuticals and Consumer Health.

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