-$0.06 Earnings Per Share Expected for Akorn, Inc. (NASDAQ:AKRX) This Quarter

Wall Street analysts predict that Akorn, Inc. (NASDAQ:AKRX) will report ($0.06) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Akorn’s earnings, with estimates ranging from ($0.10) to ($0.04). Akorn reported earnings per share of ($0.02) in the same quarter last year, which would indicate a negative year-over-year growth rate of 200%. The company is expected to report its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Akorn will report full year earnings of ($0.18) per share for the current fiscal year, with EPS estimates ranging from ($0.35) to ($0.04). For the next financial year, analysts anticipate that the firm will post earnings of $0.18 per share, with EPS estimates ranging from ($0.20) to $0.49. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Akorn.

Akorn (NASDAQ:AKRX) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.08. Akorn had a negative net margin of 67.38% and a negative return on equity of 13.92%. The business had revenue of $165.90 million for the quarter, compared to analysts’ expectations of $153.01 million. The firm’s revenue for the quarter was down 9.9% on a year-over-year basis.

A number of research firms have weighed in on AKRX. Zacks Investment Research upgraded shares of Akorn from a “hold” rating to a “buy” rating and set a $5.50 target price on the stock in a research note on Tuesday. BidaskClub upgraded shares of Akorn from a “hold” rating to a “buy” rating in a research note on Saturday, June 29th. Royal Bank of Canada set a $5.00 target price on shares of Akorn and gave the company a “hold” rating in a research note on Thursday, May 30th. Finally, SunTrust Banks began coverage on shares of Akorn in a research note on Tuesday, March 19th. They issued a “hold” rating and a $4.00 target price on the stock. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Akorn has a consensus rating of “Buy” and an average target price of $6.58.

In other news, Director Terry Allison Rappuhn purchased 10,000 shares of the company’s stock in a transaction on Monday, May 13th. The stock was acquired at an average price of $4.03 per share, with a total value of $40,300.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Steven J. Meyer purchased 15,000 shares of the company’s stock in a transaction on Monday, May 20th. The shares were purchased at an average cost of $4.10 per share, with a total value of $61,500.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 85,000 shares of company stock worth $337,800. 3.90% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Deutsche Bank AG lifted its position in shares of Akorn by 102.7% in the 4th quarter. Deutsche Bank AG now owns 1,886,403 shares of the company’s stock worth $6,393,000 after purchasing an additional 955,906 shares during the period. Geode Capital Management LLC lifted its position in shares of Akorn by 11.3% in the 4th quarter. Geode Capital Management LLC now owns 1,132,779 shares of the company’s stock worth $3,839,000 after purchasing an additional 115,405 shares during the period. Rhumbline Advisers lifted its position in shares of Akorn by 44.3% in the 4th quarter. Rhumbline Advisers now owns 327,768 shares of the company’s stock worth $1,111,000 after purchasing an additional 100,602 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Akorn in the 4th quarter worth about $1,567,000. Finally, BNP Paribas Arbitrage SA lifted its position in shares of Akorn by 9.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 630,785 shares of the company’s stock worth $2,220,000 after purchasing an additional 56,095 shares during the period. 66.82% of the stock is owned by institutional investors and hedge funds.

Akorn stock opened at $4.98 on Friday. Akorn has a fifty-two week low of $2.64 and a fifty-two week high of $19.65. The stock has a market capitalization of $626.73 million, a PE ratio of -13.83 and a beta of 1.90. The stock’s 50-day moving average price is $4.52. The company has a current ratio of 3.26, a quick ratio of 2.30 and a debt-to-equity ratio of 2.31.

About Akorn

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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