Akorn (AKRX) is Upgraded by Piper Jaffray to Overweight

Akorn (AKRX) was Upgraded by Piper Jaffray to ” Overweight”. Earlier the firm had a rating of “Neutral ” on the company shares. Piper Jaffray advised their investors in a research report released on Sep 15, 2016.

Many Wall Street Analysts have commented on Akorn. Company shares were Reiterated by WallachBeth on Aug 5, 2016 to “Buy”, Firm has raised the Price Target to $ 40 from a previous price target of $39 .Akorn was Downgraded by Raymond James to ” Mkt Perform” on Aug 2, 2016.

On the company’s financial health, Akorn reported $0.58 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.56. The company had revenue of $280.73 million for the quarter, compared to analysts expectations of $272.99 million. The company’s revenue was up 27.1% compared to the same quarter last year.

Akorn closed down -0.01 points or -0.04% at $27.56 with 2,820,092 shares getting traded on Wednesday. Post opening the session at $27.77, the shares hit an intraday low of $27.38 and an intraday high of $28.28 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Aug 16, 2016, Kenneth Abramowitz (director) sold 2,691 shares at $30.46 per share price. According to the SEC, on Jun 14, 2016, Joseph Bonaccorsi (Sr VP Gen Counsel & Secretary) sold 6,500 shares at $29.84 per share price. On Jun 9, 2016, Ronald M Johnson (director) sold 7,542 shares at $31.49 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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