NEW YORK (TheStreet) -- Shares of Akorn Inc. (AKRX) are down 9.05% to $37.91 after reporting 2014 third quarter earnings that revealed $39.9 million in costs related to price increases, dragging reported results below analysts expectations.
The drug maker reported GAAP revenue for the 2014 third quarter of $132.7 million and a net loss from continuing operations of 11 cents per share, compared with $81.9 million in revenue and 11 cents per share a year ago.
The results fell short of analysts' expected revenue of $155.2 million and earnings of 25 cents per share, according to data compiled by Yahoo Finance.
However, without the added costs, the company reported adjusted revenue of $173 million in the quarter and adjusted earnings of 27 cents a share.
Separately, TheStreet Ratings team rates AKORN INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate AKORN INC (AKRX) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
You can view the full analysis from the report here: AKRX Ratings Report