Piper Jaffray Says Akorn's 2012 Guidance Leaves Room for Upside

According to Piper Jaffray, Akorn's (NASDAQ: AKRX) detailed 2012 guidance announcement leaves significant room for upside given the favorable dynamics surrounding the generic injectibles business, among other reasons. “We would also add that the adjusted diluted EPS guidance range leaves out a handful of items that should also have a meaningful impact for 2012. We continue to believe that visibility on a long-term EPS CAGR for AKRX north of 30% is strong, driven by relaunches of already approved generic products, eventual aNDA approvals, and expansion of the over-the-counter (OTC) ophthalmic business,” Piper Jaffray explained in the report.Piper Jaffray maintains its Overweight rating and $14.00 PT on Akorn Inc., which closed yesterday at $10.78.