Akorn (AKRX) Releases Earnings Results, Reports EPS of $0.54 EPS

Akorn (AKRX) reported quarterly earnings results on Monday, May-16-2016. The company reported $0.54 EPS for the quarter. Analysts had a consensus estimate of $0.54. The company posted revenue of $268.30 million in the period, compared to analysts expectations of $267.58 million. The company’s revenue was up 18.0% compared to the same quarter last year.

Many Wall Street Analysts have commented on Akorn. Shares were Reiterated by Deutsche Bank on Mar 18, 2016 to “Buy” and Lowered the Price Target to $ 33 from a previous price target of $40 .

Akorn opened for trading at $25.98 and hit $27.45 on the upside on Friday, eventually ending the session at $26.5, with a gain of 0.34% or 0.09 points. The heightened volatility saw the trading volume jump to 19,90,566 shares. Company has a market cap of $3,165 M.

In a different news, on Apr 21, 2015, Mark M Silverberg (Exec VP, Ops Global QA&TechSrv) sold 29,000 shares at $55.00 per share price. According to the SEC, on Mar 3, 2015, Rajat Rai (CEO) purchased 5,000 shares at $47.70 per share price. On Feb 19, 2015, Joseph Bonaccorsi (Secretary) sold 40,827 shares at $47.33 per share price, according to the Form-4 filing with the securities and exchange commission.

Akorn Inc. (Akorn) together with its wholly owned subsidiaries is a specialty pharmaceutical company that develops manufactures and markets generic and branded prescription pharmaceuticals as well as animal and over-the-counter (OTC) consumer health products. The Company specializes in sterile and non-sterile dosage forms including ophthalmics injectables oral liquids otics topicals inhalants and nasal sprays. The Company operates in two segments: Prescription Pharmaceuticals which is engaged in the sale of branded and generic prescription pharmaceuticals and Consumer Health which is engaged in the sale of branded and private label consumer and animal health products. The Company operates pharmaceutical manufacturing facilities in Decatur Illinois; Somerset New Jersey; Amityville New York and Paonta Sahib Himachal Pradesh India as well as a central distribution warehouse in Gurnee Illinois and an additional warehousing facility in Amityville New York.


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