Zacks: Brokerages Anticipate Akorn, Inc. (NASDAQ:AKRX) to Post -$0.06 Earnings Per Share

Analysts expect that Akorn, Inc. (NASDAQ:AKRX) will announce earnings of ($0.06) per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Akorn’s earnings. The lowest EPS estimate is ($0.10) and the highest is ($0.04). Akorn reported earnings per share of ($0.02) during the same quarter last year, which indicates 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 year, with EPS estimates ranging from ($0.35) to ($0.04). For the next fiscal year, analysts anticipate that the company will post earnings of $0.18 per share, with EPS estimates ranging from ($0.20) to $0.49. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that that provide coverage for 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 Zacks’ consensus estimate of ($0.18) by $0.08. The firm had revenue of $165.90 million during the quarter, compared to analysts’ expectations of $153.01 million. Akorn had a negative return on equity of 13.92% and a negative net margin of 67.38%. The business’s quarterly revenue was down 9.9% on a year-over-year basis.

A number of equities analysts have weighed in on the company. SunTrust Banks assumed coverage on Zoetis in a report on Tuesday, March 19th. They issued a “hold” rating and a $100.00 price target for the company. BidaskClub cut Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday. Royal Bank of Canada set a $5.00 price target on Akorn and gave the stock a “hold” rating in a report on Thursday, May 30th. Finally, Zacks Investment Research upgraded DLH from a “sell” rating to a “hold” rating in a report on Tuesday. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $6.58.

In other Akorn news, Director Steven J. Meyer bought 10,000 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were bought at an average cost of $3.75 per share, with a total value of $37,500.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Alan D. Weinstein bought 50,000 shares of the business’s stock in a transaction on Friday, May 31st. The stock was acquired at an average cost of $3.97 per share, for a total transaction of $198,500.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 85,000 shares of company stock worth $337,800. 3.90% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in AKRX. MML Investors Services LLC acquired a new stake in shares of Akorn during the 4th quarter valued at approximately $34,000. Municipal Employees Retirement System of Michigan acquired a new stake in Akorn in the fourth quarter worth $92,000. Moors & Cabot Inc. increased its position in Akorn by 100.0% in the first quarter. Moors & Cabot Inc. now owns 28,500 shares of the company’s stock worth $100,000 after buying an additional 14,250 shares during the period. NumerixS Investment Technologies Inc acquired a new stake in Akorn in the fourth quarter worth $149,000. Finally, Mackay Shields LLC acquired a new stake in Akorn in the fourth quarter worth $171,000. 66.82% of the stock is currently owned by institutional investors.

NASDAQ AKRX traded down $0.13 on Friday, reaching $4.45. The company had a trading volume of 1,138,629 shares, compared to its average volume of 2,430,744. The firm has a market capitalization of $610.37 million, a price-to-earnings ratio of -12.36 and a beta of 1.90. Akorn has a 1 year low of $2.64 and a 1 year high of $19.65. The firm’s 50-day moving average is $4.53. The company has a quick ratio of 2.30, a current ratio of 3.26 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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