Wall Street analysts expect Akorn, Inc. (NASDAQ:AKRX) to report earnings of $0.37 per share for the current quarter, Zacks reports. Four analysts have issued estimates for Akorn’s earnings. The highest EPS estimate is $0.40 and the lowest is $0.35. Akorn posted earnings of $0.56 per share in the same quarter last year, which would suggest a negative year over year growth rate of 33.9%. The firm 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 $1.52 per share for the current year, with EPS estimates ranging from $1.44 to $1.61. For the next fiscal year, analysts forecast that the company will report earnings of $1.81 per share, with EPS estimates ranging from $1.79 to $1.83. Zacks’ EPS calculations are an average based on a survey of analysts that that provide coverage for Akorn.

A number of research firms have recently commented on AKRX. TheStreet raised shares of Akorn from a “c+” rating to a “b-” rating in a report on Thursday, April 20th. Royal Bank Of Canada set a $34.00 target price on shares of Akorn and gave the stock a “hold” rating in a report on Saturday, May 27th. William Blair cut shares of Akorn from an “outperform” rating to a “market perform” rating in a report on Tuesday, April 25th. Piper Jaffray Companies reissued a “hold” rating and issued a $34.00 target price on shares of Akorn in a report on Thursday. Finally, Jefferies Group LLC cut shares of Akorn from a “buy” rating to a “hold” rating and increased their target price for the stock from $24.00 to $34.00 in a report on Tuesday, April 25th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $28.56.

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In other Akorn news, COO Bruce Kutinsky sold 40,000 shares of the stock in a transaction that occurred on Thursday, August 3rd. The shares were 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 owns 317,480 shares of the company’s stock, valued at approximately $10,622,880.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brian Tambi sold 5,165 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $33.37, for a total transaction of $172,356.05. The disclosure for this sale can be found here. Corporate insiders own 28.20% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. State Treasurer State of Michigan increased its stake in Akorn by 0.3% in the first quarter. State Treasurer State of Michigan now owns 35,400 shares of the company’s stock worth $852,000 after buying an additional 100 shares in the last quarter. Public Employees Retirement Association of Colorado increased its stake in Akorn by 0.8% in the second quarter. Public Employees Retirement Association of Colorado now owns 19,534 shares of the company’s stock worth $655,000 after buying an additional 158 shares in the last quarter. Pacer Advisors Inc. increased its stake in Akorn by 1.4% in the second quarter. Pacer Advisors Inc. now owns 12,889 shares of the company’s stock worth $432,000 after buying an additional 180 shares in the last quarter. Mason Street Advisors LLC increased its stake in Akorn by 0.6% in the first quarter. Mason Street Advisors LLC now owns 41,143 shares of the company’s stock worth $991,000 after buying an additional 226 shares in the last quarter. Finally, Advantus Capital Management Inc increased its stake in Akorn by 2.3% in the first quarter. Advantus Capital Management Inc now owns 11,151 shares of the company’s stock worth $269,000 after buying an additional 256 shares in the last quarter. 74.73% of the stock is owned by institutional investors and hedge funds.

Shares of Akorn (NASDAQ AKRX) traded up 0.03% during trading on Thursday, reaching $33.37. 1,436,827 shares of the company traded hands. Akorn has a 12 month low of $17.61 and a 12 month high of $34.00. The stock has a market capitalization of $4.17 billion, a PE ratio of 33.71 and a beta of 1.36. The company has a 50-day moving average of $33.55 and a 200-day moving average of $28.93.

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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