Akorn's Current Price Is Nuts
Andrew Walker, CFA • 10 Comments
Andrew Walker, CFA • 10 Comments
Akorn Inc: Growing Under The Radar
Tue, May 10, 9:16 AM
Tue, Mar. 22, 12:41 PM
Tue, Mar. 22, 11:23 AM
- On a preliminary basis, Akorn's (AKRX +37.7%) 2015 EPS was $1.14 on revenues of $985M. Non-GAAP EPS was $1.93, non-GAAP EBITDA was $455M and CF Ops was $345M.
- The company launched 12 new products during the year. It received 15 product approvals from the FDA along with two tentative approvals.
- It expects to file its restated 2014 financials and its delinquent 2015 financials by May 9.
- 2016 Guidance: Revenues: $1,060M - 1,080M (+9%); EPS: $1.56 - 1.66 (+41%); Non-GAAP EPS: $2.10 - 2.20 (+11%); Non-GAAP EBITDA: $485M - 505M (+9%).
- Shares are up 38% on more than double normal volume.
- Update: In a statement released on May 6, the company says it will file its 2015 10-K on Monday, May 9 and its 10-Q for Q1 2016 after the close on May 16. Management will host a conference call at 10:00 am ET on Tuesday, May 17 to discuss its Q1 results and provide a business update.
Tue, Mar. 22, 9:20 AM
Nov. 13, 2015, 6:24 PM
- Akorn (AKRX +4.5%) has received a noncompliance notice from Nasdaq for not timely filing its 10Q for the quarter ended Sept. 30, the company says.
- The delay is linked to restatement of financials that the company said in April that it would pursue. At the time, it said it would restate for the annual period ended Dec. 31, 2014, and for the quarters ended in June, September and December.
- It expects to file those amended reports in the first quarter of 2016.
- Separately, Nasdaq had notified the company on Nov. 3 that it would be subject to delisting unless it requested a hearing; it's been granted a hearing but says there's "no assurance" that its request for continued listing will be granted as it works back to compliance.
- Previously: Akorn to restate financial statements; shares drop after hours (Apr. 24 2015)
Oct. 22, 2015, 12:52 PM
- Specialty generic drugs firm Akorn (AKRX -9.9%) tries to stem the bleeding engulfing some pharma companies over their use of specialty pharmacies to distribute products. In a statement, it says that it does not use alternative fulfillment systems or specialty pharmacies to distribute its products nor does it have a financial interest in such systems or specialty pharmacies.
- Shares are down ~30% this week as a result of investors taking a broad view of the risks. Bulls, no doubt, see the weakness as a buying opportunity.
Oct. 13, 2015, 5:14 PM
- Generic drugmaker Akorn (AKRX -6.1%) has named Duane Portwood its new chief financial officer, effective Oct. 30.
- Portwood has been corporate controller and VP at Home Depot since 2006. Prior to that he had been with Wm. Wrigley Jr. Co.
- Akorn's interim CFO, Randall Pollard, will continue his role as senior VP, chief accounting officer and corporate controller.
- The stock is down 28.5% over the past month.
- Previously: Akorn launches generic antidote for acetaminophen overdose (Jul. 08 2015)
May 8, 2015, 5:40 PM
Apr. 27, 2015, 12:45 PM
Apr. 27, 2015, 9:18 AM
Apr. 24, 2015, 5:37 PM
Mar. 18, 2015, 9:12 AM
Mar. 17, 2015, 5:38 PM
Mar. 13, 2015, 5:40 PM
Mar. 10, 2015, 12:45 PM
Mar. 10, 2015, 10:24 AM
- Akorn (AKRX -14.4%) slumps on double normal volume in response to Actavis' (ACT -1.2%) after hours announcement of its U.S. launch of a generic version of Fougera's Temovate (clobetasol cream 0.05%) for the relief of inflammatory and pruritic dermatoses. Akorn's generic version was one of its top sellers last quarter.
- To assuage investors, Akorn reaffirms its 2015 revenue guidance of $960M - 980M and Non-GAAP EPS of $1.88 - 1.98.
Akorn, Inc. is a niche pharmaceutical company that develops, manufactures and markets generic and branded prescription pharmaceuticals as well as animal and consumer health products. It specializes in difficult-to-manufacture sterile and non-sterile dosage forms including: ophthalmics,... More
Industry: Drugs - Generic
Country: United States
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