Needham & Company Maintains a 'Buy' on Akorn (AKRX); New Product Outlook Affords Upward Bias
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Price: $13.24 -1.85%
Rating Summary:
4 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 2 | New: 2
Rating Summary:
4 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 2 | New: 2
Trade AKRX Now!
Needham & Company maintains a 'Buy' on Akorn (NASDAQ: AKRX) price target of $14.00.
Analyst, Elliot Wilbur, said, "AKRX delivered another big upside quarter as the company continues to ride the momentum wave of strong underlying unit volume growth in core generic segments, favorable pricing trends, acquisition-related incremental sales volume and product revitalizations tied to the current high level of drug shortages. While these top-line accelerants should eventually taper off, there appears to be no imminent sign of deceleration on the horizon, and given continued bulked up investment in the company’s generic R&D pipeline, we believe short-term numbers remain squarely biased to the upside."
"...we lift our 2012 full year revenue estimate to $256.9MM from $253.9MM, essentially carrying through this period’s upside." (FY12 EPS estimate raised from $0.52 to $0.55 and FY13 from $0.72 to $0.78)
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 $12.33 yesterday, with a 52 week range of $6.18-$13.09.
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Analyst, Elliot Wilbur, said, "AKRX delivered another big upside quarter as the company continues to ride the momentum wave of strong underlying unit volume growth in core generic segments, favorable pricing trends, acquisition-related incremental sales volume and product revitalizations tied to the current high level of drug shortages. While these top-line accelerants should eventually taper off, there appears to be no imminent sign of deceleration on the horizon, and given continued bulked up investment in the company’s generic R&D pipeline, we believe short-term numbers remain squarely biased to the upside."
"...we lift our 2012 full year revenue estimate to $256.9MM from $253.9MM, essentially carrying through this period’s upside." (FY12 EPS estimate raised from $0.52 to $0.55 and FY13 from $0.72 to $0.78)
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 $12.33 yesterday, with a 52 week range of $6.18-$13.09.
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