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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
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March 5, 2015
07:39 EDTAKRXCRT Capital to hold a bus tour
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March 4, 2015
09:09 EDTAKRXAkorn recent weakness a buying opportunity, says Craig-Hallum
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07:08 EDTAKRXAkorn adopts policy to support use of products to promote human health
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March 3, 2015
14:34 EDTAKRXAkorn shares should be bought on weakness, says Sterne Agee
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14:29 EDTAKRXAkorn weakness a buying opportunity, says Sterne Agee
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11:13 EDTAKRXAkorn delays annual report filing, sees material weaknesses
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11:06 EDTAKRXAkorn weakness a buying opportunity, says BofA/Merrill
BofA/Merrill continues to like Buy rated Akorn's scarcity value as a diverse niche player and said the weakness on the 10-K filing delay presents an attractive buying opportunity. Management expects to file the 10-K within the permitted 15-day extension and does not believe there will be a material impact on previously reported results of operations.
10:26 EDTAKRXHigh option volume stocks
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February 27, 2015
09:58 EDTAKRXOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: 500.com (WBAI) downgraded to Hold from Buy at Deutsche Bank... Akorn (AKRX) downgraded to Hold after share rally at Needham... Allscripts (MDRX) downgraded to Market Perform from Outperform at Leerink... Bank of America (BAC) downgraded to Neutral from Buy at UBS... Bill Barrett (BBG) downgraded to Hold from Buy at KLR Group... CA Technologies (CA) downgraded to Underperform from Neutral at Credit Suisse... CBOE Holdings (CBOE) downgraded at BofA/Merrill... CONE Midstream (CNNX) downgraded to Sector Perform from Outperform at RBC Capital... Calamos (CLMS) downgraded to Underperform from Neutral at Credit Suisse... Crane (CR) downgraded to Market Perform from Outperform at FBR Capital... Dick's Sporting (DKS) downgraded to Equal Weight from Overweight at Barclays... EnerNOC (ENOC) downgraded to Buy from Strong Buy at Needham... Hercules Offshore (HERO) downgraded to Sell from Buy at Deutsche Bank... Insulet (PODD) downgraded at Oppenheimer... Intelsat (I) downgraded to Underperform from Neutral at Credit Suisse... Laredo Petroleum (LPI) downgraded to Market Perform from Outperform at Northland... Mavenir Systems (MVNR) downgraded to Equal Weight from Overweight at Morgan Stanley... Memorial Production (MEMP) downgraded to Underperform from Perform at Oppenheimer... Mobileye (MBLY) downgraded to Neutral from Buy at Dougherty... NTELOS (NTLS) downgraded to Market Perform from Outperform at Wells Fargo... Ocwen (OCN) downgraded to Sell from Neutral at Compass Point... Pegasystems (PEGA) downgraded to Neutral from Buy at Merriman... Performant Financial (PFMT) downgraded to Neutral from Buy at Compass Point... Pharmacyclics (PCYC) downgraded to Neutral from Buy at Goldman... Potbelly (PBPB) downgraded to Underweight from Overweight at Piper Jaffray... SYNNEX (SNX) downgraded to Hold from Buy at Stifel... Safe Bulkers (SB) downgraded at Credit Suisse... Sarepta (SRPT) downgraded to Market Perform from Outperform at Cowen... Seadrill Partners (SDLP) downgraded to Sector Perform from Outperform at RBC Capital... Spirit Realty (SRC) downgraded at RBC Capital... Transocean (RIG) downgraded to Sector Perform from Outperform at Iberia... UIL Holdings (UIL) downgraded to Neutral from Outperform at RW Baird... WCI Communities (WCIC) downgraded to Neutral from Buy at Citigroup... Walter Investment (WAC) downgraded to Neutral from Outperform at Credit Suisse.
07:24 EDTAKRXAkorn downgraded to Hold after share rally at Needham
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06:49 EDTAKRXAkorn downgraded to Hold from Buy at Needham
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06:39 EDTAKRXAkorn price target raised to $66 from $55 at Piper Jaffray
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06:13 EDTAKRXAkorn price target raised to $65 from $43 at WallachBeth
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February 26, 2015
13:05 EDTAKRXAkorn price target raised to $60 from $50 at Guggenheim
Guggenheim raised Buy rated Akron's price target to $60 from $50 following the Q4 report. The analyst believes Akorn is well positioned for upward earnings revisions that will drive shares higher in 2015.
07:17 EDTAKRXAkorn sees Q1 revenue down sequentially from Q4
Q1 revenue consensus $217.62M. The company said: "Based on several previously disclosed factors contributing to Q4 performance including higher-than-normal in-transit revenue at the end of the Q3, seasonality in the Hi-Tech Pharmacal cough and cold business and the successful resolution of backorders from the third quarter encountered due to clobetasol market dynamics, the company believes 1Q15 revenue will be below 4Q14 revenue. Akorn projects that consolidated net revenue will increase sequentially throughout 2015 due to a combination of seasonality in the business and the cumulative impact of new launches on quarterly revenue throughout the year."
07:14 EDTAKRXAkorn sees FY15 adjusted EPS $1.88-$1.98, consensus $1.82
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07:12 EDTAKRXAkorn reports Q4 adjusted EPS 50c, consensus 45c
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