Tag Archives: akrx

Akorn Leads 5 Drug Stocks Moving After Hours On News

IBD’s top two industries this week are Medical-Biotech/Biomed and Medical-Generic Drugs. Several companies from these top groups reported market-moving news after Tuesday’s market close. Here are five: Akorn Restates, Stock Rises Akorn (AKRX) late Tuesday restated Q2 and Q3 2014 financial statements, citing an error regarding assets and liabilities related to its Hi-Tech Phamacal buy on April 17. The error led to an overstatement of Q2 revenue by

Akorn Tumbles On New Skin-Cream Rival From Actavis

Specialty drugmaker Akorn (AKRX) dropped more than 16% on the stock market today, near 43, after two analysts cut their price targets in the wake of a rival drug’s launch, even though Akorn affirmed its guidance. Sterne Agee and Jefferies cut their targets to 51 and 56, respectively, after Actavis (ACT) said late Monday that it was launching its own version of clobetasol, Akorn’s best-selling skin cream. “We estimate that post price increases in

2 Top IBD 50 Stocks Are Surging Post-Earnings

Two highly ranked IBD 50 stocks are surging to new record highs Thursday on bullish earnings reports. Generic-drug maker Akorn (AKRX) reported earnings that jumped 257%, its fifth straight quarter of faster growth. Sales climbed 168%. Both topped analyst expectations, and so did its guidance. Avago Technologies (AVGO) late Wednesday reported earnings that soared 149% to top views, while sales increased 131%. It was the Apple (AAPL) chip supplier’s