New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 17, 2013
14:50 EDTAKRXAkorn shares dip, then recover after issuing FY13 view
Shares of pharmaceutical maker Akorn (AKRX) dipped sharply then quickly recovered after the company issued its financial guidance for 2013 in a mid-afternoon announcement. The company reaffirmed its previously issued FY12 outlook, but guided to FY13 adjusted EPS of 57c-61c, below consensus of 66c. The company's expected revenue range of $325M-$335M came close to consensus of $330.73M at the mid-point. The company added its guidance excludes the impact from any products for which it has not yet received FDA approval and that it sees its overall gross margins for 2013 in the 54%-56% range. The company also said it expects improvement in the margins on its more competitive products following U.S. FDA approval of its Indian manufacturing site, adding that it sees FDA inspections of some facilities by late 2013 or early 2014. In a note to investors this morning, research firm Piper Jaffray said Akorn's 2013 guidance was likely to be conservative, given that management does not factor new approvals. In that pre-open note the firm reiterated an Overweight rating and $21 price target on the stock. In late afternoon trading following the guidance, Akorn shares are down 1c to $13.99.
News For AKRX From The Last 14 Days
Check below for free stories on AKRX the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
August 18, 2014
11:41 EDTAKRXCubist rises after report sparks takeover interest speculation
Subscribe for More Information
August 12, 2014
08:59 EDTAKRXAkorn sees VersaPharm acquisition adding 10c-12c to EPS
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use