Akorn (AKRX) PT, Estimates Lifted at Needham & Company

Needham & Company analyst Elliot Wilbur raised estimates and his price target on Buy-rated Akorn (NASDAQ: AKRX) to $30.00 (from $28.00), saying the string of deals brings $2.00 EPS power into view by 2016.

Wilbu comments, "Our initial positive impression on the VersaPharma deal was affirmed in management's call to discuss the transaction and we like the move for its ease of integration, enhancement of AKRX's new positioning in the attractive topicals market, upside optionality around VersaPharm's pipeline and durability and upside potential of core asset; generic Accutane. While new approvals from AKRX's expanding pipeline have only trickled out relative to expectations, management, via acquisition, has expanded its revenue base by some $400.0MM plus since mid-2013, a dynamic that remains under appreciated in our view and brings $2.00 EPS power into sight by 2016."

The firm lifted FY 2014 EPS from $0.86 to $0.89 and FY 2015 EPS from $1.41 to $1.50.

For an analyst ratings summary and ratings history on Akorn click here. For more ratings news on Akorn click here.

Shares of Akorn closed at $25.82 yesterday.

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