UPDATE: Goldman Sachs Starts Akorn (AKRX) at Sell

December 1, 2016 6:32 AM EST
Get Alerts AKRX Hot Sheet
Price: $20.61 --0%

Rating Summary:
    12 Buy, 7 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 6 | Down: 10 | New: 6
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(Updated - December 1, 2016 10:07 AM EST)

Goldman Sachs initiated coverage on Akorn (NASDAQ: AKRX) with a Sell rating and a price target of $20.00. Analyst Stephan Stewart highlighted increasing competitive threat on the base and pipeline delays.

Stewart explained, "While the company has benefited from better than expected YTD sales in a challenging generic environment, we see eroding earnings momentum ahead, driven by increased competitive risk in the base, and delayed pipeline approvals due to ongoing FDA facility issues. While M&A potential is a source of upside risk, we see recent remediation of accounting issues and current facility challenges limiting the scope of these opportunities."

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 $21.22 yesterday.

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