UPDATE: Auriga Starts Akorn (AKRX) at Buy; Unique Product Portfolio with Limited Competition
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Price: $0.09 --0%
Rating Summary:
6 Buy, 9 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
6 Buy, 9 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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(Updated - May 23, 2012 12:40 PM EDT)
Auriga initiates coverage on Akorn (NASDAQ: AKRX) with a Buy. PT $16.00.
Analyst, Louise Chen, said, "KRX manufactures and markets a full line of diagnostics, ophthalmics and injectable drugs. Additionally, through its AVR subsidiary, AKRX sells a line of OTC ophthalmics for the treatment of dry eye, eyelid hygiene and macular degeneration... AKRX is a unique company because it sells generic injectables and ophthalmic drugs, which are both areas with high barriers to entry and limited competition. AKRX's sales are increasing rapidly with growth of ~60% in 2011. We are forecasting sales growth of ~70% in 2012. The company has also been expanding its gross margins, from 21% in 2009 to an expected 60% in 2012. Pipeline advancements, manufacturing upgrades, business development and international expansion could add $500MM to $700MM of sales and contribute $1.50 to $2.10 of EPS annually over the next five years, by our estimate."
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 $13.63 yesterday.
Auriga initiates coverage on Akorn (NASDAQ: AKRX) with a Buy. PT $16.00.
Analyst, Louise Chen, said, "KRX manufactures and markets a full line of diagnostics, ophthalmics and injectable drugs. Additionally, through its AVR subsidiary, AKRX sells a line of OTC ophthalmics for the treatment of dry eye, eyelid hygiene and macular degeneration... AKRX is a unique company because it sells generic injectables and ophthalmic drugs, which are both areas with high barriers to entry and limited competition. AKRX's sales are increasing rapidly with growth of ~60% in 2011. We are forecasting sales growth of ~70% in 2012. The company has also been expanding its gross margins, from 21% in 2009 to an expected 60% in 2012. Pipeline advancements, manufacturing upgrades, business development and international expansion could add $500MM to $700MM of sales and contribute $1.50 to $2.10 of EPS annually over the next five years, by our estimate."
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 $13.63 yesterday.
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