ARTICLE: AKRX available below
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Recently analysts working for a variety of stock market brokerages have changed their consensus ratings and price targets on shares of Exelixis, Inc. (NASDAQ:EXEL).
The most recent broker reports which have been released note that 2 analysts have a rating of “buy”, 1 analysts “outperform”, 2 analysts “hold”, 0 analysts “underperform” and 0 analysts “sell”.
Akorn, Inc. (NASDAQ: AKRX)
Akorn, Inc. (AKRX), a pharmaceuticals company yesterday reported their unaudited full year 2015 financial results and provided guidance for 2016. Akorn reported preliminary 2015 revenues of $985 million which beat analyst expectations of $971.4 million. Akorn reported preliminary adjusted earnings of $1.93 per share which fell short of analyst expectations of $1.95 per share.
Akorn, Inc. CEO’s Comments
“I am pleased to announce our solid 2015 financial performance with record revenue and cash flow,” said Raj Rai, Akorn’s Chief Executive Officer. “Our strong financial performance is directly attributable to our disciplined acquisition strategy and robust pipeline initiatives. I would like to thank all our employees in making 2015 a successful year for Akorn. In our ongoing efforts to strengthen our organization, we have made deliberate investments in human capital throughout 2015 to support both short- and long-term growth as well as our operational objectives.”
Rai added, “We have transformed Akorn into a well-diversified specialty generics platform with a solid pipeline and growth opportunities. I am excited about the long-term prospects of our business as we look forward to the next phase of our growth.” Globe Newswire
AKRX Technical Analysis
AKRX opened trading yesterday at $21.97 and climbed up and closed trading at $26.32, equivalent to a 20% increase. After closing AKRX continued the climb up to $26.49. Taking a look at the daily chart we can see the last time AKRX traded above this price level was on March 2nd when it traded at $26.63. Taking a closer look at the daily chart we can see that AKRX has been on decline dating back to January 6th when it traded at $38.52. AKRX has a float of 57.70 million shares and traded over 7 times the normal daily trading volume on Tuesday. For trading purposes, I would be looking to take a long position if the stock can open trading above $25 on Wednesday. My stop loss would be $0.25 from my entry position, fearing anything below that and the stock would start to give back some of its gains.
Akorn, Inc. develops, manufactures, and markets generic and branded prescription pharmaceuticals, as well as animal and over-the-counter (OTC) consumer health products in the United States and internationally. It operates through two segments, Prescription Pharmaceuticals and Consumer Health. The Prescription Pharmaceuticals segment markets generic and branded ophthalmics, injectables, oral liquids, otics, topical, inhalants, and nasal sprays. This segments generic products include Clobetasol Propionate, a corticosteroid, which is used to treat various skin conditions; Fluticasone Propionate, a corticosteroid used for nasal symptoms of allergic and non-allergic rhinitis conditions; Lidocaine/Prilocaine, a topical anesthetic; Progesterone, which is used to prevent endometrial hyperplasia; Vancomycin, an antibiotic used to treat bacterial infections; and other products. The Consumer Health segment markets branded and private label animal health products, as well as OTC products for the treatment of dry eye under the TheraTears brand name. This segments branded products comprise Akten, a topical ocular anesthetic gel; AzaSite, an antibiotic used to treat bacterial conjunctivitis; Cosopt, Cosopt PF, Betimol, and Zioptan, which are used in the treatment of glaucoma; Nembutal, a sedative; and Xopenex inhalation solution for the treatment or prevention of bronchospasm. It also markets other OTC consumer health products, including Mag-Ox, a diabetes magnesium supplement, and the Zostrix brand of capsaicin products for pain management; and animal health branded and generic products comprising Anased, Tolazine, Yobine, Butorphic, and VetaKet. Akorn, Inc. was founded in 1971 and is headquartered in Lake Forest, Illinois.
Source: Ticker News