Zacks: Brokerages Expect Akorn, Inc. (AKRX) to Post $0.11 Earnings Per Share

Equities analysts predict that Akorn, Inc. (NASDAQ:AKRX) will post earnings per share of $0.11 for the current fiscal quarter, Zacks reports. Two analysts have issued 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 results on Monday, January 1st.

According to Zacks, analysts expect that Akorn will report full-year earnings of $0.51 per share for the current year, with EPS estimates ranging from $0.49 to $0.52. For the next fiscal year, analysts forecast that the firm will report earnings of $0.45 per share, with EPS estimates ranging from $0.29 to $0.60. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Akorn.

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

Several equities research analysts have recently weighed in on AKRX shares. BidaskClub raised Akorn from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 4th. Royal Bank of Canada raised their price objective on Akorn from $25.00 to $27.00 and gave the stock a “hold” rating in a research note on Wednesday, July 25th. Deutsche Bank reissued a “buy” rating on shares of Akorn in a research note on Thursday, August 23rd. Finally, Zacks Investment Research raised Akorn from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Monday, August 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Akorn currently has a consensus rating of “Hold” and a consensus price target of $26.50.

Shares of AKRX traded up $0.22 during trading hours on Wednesday, hitting $13.06. 1,861,800 shares of the company were exchanged, compared to its average volume of 2,459,526. The firm has a market cap of $1.63 billion, a PE ratio of 8.08, a P/E/G ratio of 1.55 and a beta of 1.92. The company has a quick ratio of 2.87, a current ratio of 3.94 and a debt-to-equity ratio of 1.13. Akorn has a one year low of $10.76 and a one year high of $33.63.

Several institutional investors have recently modified their holdings of the company. Northern Trust Corp boosted its position in shares of Akorn by 75.7% in the second quarter. Northern Trust Corp now owns 1,409,291 shares of the company’s stock worth $23,379,000 after buying an additional 607,101 shares during the period. WINTON GROUP Ltd boosted its position in shares of Akorn by 61.9% in the second quarter. WINTON GROUP Ltd now owns 196,261 shares of the company’s stock worth $3,256,000 after buying an additional 75,067 shares during the period. PointState Capital LP boosted its position in shares of Akorn by 933.8% in the second quarter. PointState Capital LP now owns 1,255,027 shares of the company’s stock worth $20,821,000 after buying an additional 1,133,627 shares during the period. MetLife Investment Advisors LLC boosted its position in shares of Akorn by 75.0% in the second quarter. MetLife Investment Advisors LLC now owns 102,600 shares of the company’s stock worth $1,702,000 after buying an additional 43,974 shares during the period. Finally, Metropolitan Life Insurance Co. NY boosted its position in shares of Akorn by 79.2% in the second quarter. Metropolitan Life Insurance Co. NY now owns 55,326 shares of the company’s stock worth $918,000 after buying an additional 24,449 shares during the period. 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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