Leerink Swann Starts Akorn (AKRX) at Outperform

September 27, 2012 7:00 AM EDT
Get Alerts AKRX Hot Sheet
Price: $20.21 -1.51%

Rating Summary:
    12 Buy, 7 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 22 | Down: 16 | New: 13
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Leerink Swann initiates coverage on Akorn (NASDAQ: AKRX) with a Outperform rating and price target of $15.00.

"We believe R&D/infrastructure investments + pipeline opportunities will drive modest upward EPS revisions in 2013," said analyst Jason M. Gerberry.

Gerberry thinks the company will benefit from the ophthalmic segment with high barriers to entry, which he see as an important strategic asset in the consolidating environment.

He also thinks the industry wide shortages for acute care injectable drugs are likely to persist for at least another 2-3 yrs, with MEDACorp GPO specialists expecting pricing to increase 100-200 bps in that time frame.

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 $12.70 yesterday.

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