Akorn (NASDAQ:AKRX) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a note issued to investors on Thursday, January 11th.
A number of other research firms also recently commented on AKRX. Royal Bank of Canada restated a “hold” rating and issued a $34.00 price target on shares of Akorn in a research report on Tuesday, October 3rd. Piper Jaffray Companies set a $34.00 price objective on shares of Akorn and gave the stock a “hold” rating in a report on Sunday, October 22nd. Zacks Investment Research raised shares of Akorn from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 24th. Finally, Jefferies Group set a $34.00 price objective on shares of Akorn and gave the stock a “hold” rating in a report on Sunday, October 29th. Two investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $29.17.
Akorn (AKRX) traded down $0.05 during trading on Thursday, hitting $33.01. 1,865,843 shares of the stock traded hands, compared to its average volume of 1,404,936. Akorn has a 52 week low of $17.74 and a 52 week high of $34.00. The firm has a market capitalization of $4,128.59, a price-to-earnings ratio of 20.50, a P/E/G ratio of 1.70 and a beta of 1.33. The company has a quick ratio of 3.17, a current ratio of 4.16 and a debt-to-equity ratio of 0.92.
In other news, Director Brian Tambi sold 15,100 shares of Akorn stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $33.35, for a total value of $503,585.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 28.20% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Akorn by 22.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,228 shares of the company’s stock worth $108,000 after buying an additional 599 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Akorn by 17.6% during the second quarter. Victory Capital Management Inc. now owns 4,177 shares of the company’s stock worth $140,000 after purchasing an additional 626 shares during the period. LMR Partners LLP acquired a new stake in shares of Akorn during the third quarter worth approximately $200,000. State of Alaska Department of Revenue acquired a new stake in shares of Akorn during the fourth quarter worth approximately $199,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Akorn during the second quarter worth approximately $209,000. 73.44% of the stock is currently owned by institutional investors.
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Akorn Inc (Akorn), together with its subsidiaries, is a specialty generic pharmaceutical company that develops, manufactures and markets generic and branded prescription pharmaceuticals, as well as private-label over-the-counter (OTC) consumer health products and animal health pharmaceuticals. The Company operates through two segments: Prescription Pharmaceuticals and the Consumer Health.
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