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
Sign up for a free trial to see the rest of the stories you've been missing.
May 28, 2015
09:24 EDTAKRXJefferies sees Pharma M&A continuing, lists 22 possible targets
Jefferies analyst David Steinberg believes the M&A wave in the Pharmaceuticals space that began in 2005 can continue as the key drivers remain largely intact. In a note titled "Who is Next? The Feeding Frenzy in Specialty Pharmaceuticals," Steinberg sees deals continuing amid cheap debt, the push for lower corporate taxes and investors rewarding many acquirers for their transactions. He points out there are now around 100 publicly traded Specialty Pharmaceutical companies following the recent life sciences IPO boom. Potential takeover targets, according to Steinberg, include Valeant (VRX), Shire (SHPG), Perrigo (PRGO), Zoetis (ZTS), Mallinckrodt (MNK), Jazz Pharmaceuticals (JAZZ), United Therapeutics (UTHR), Pacira (PCRX), Indivior, Insys Therapeutics (INSY), The Medicines Co. (MDCO), Depomed (DEPO), Spectrum (SPPI), KYTHERA (KYTH), Revance (RVNC), XenoPort (XNPT), Mylan (MYL), Akorn (AKRX), Impax (IPXL), Amphastar Pharmaceuticals (AMPH), Anacor (ANAC) and BioDelivery Sciences (BDSI).
06:45 EDTAKRXAkorn risk/reward compelling into restatements, says JPMorgan
Subscribe for More Information
May 18, 2015
07:21 EDTAKRXAkorn receives NASDAQ delinquency notice
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