BidaskClub upgraded shares of Akorn (NASDAQ:AKRX) from a strong sell rating to a sell rating in a research note published on Thursday.
A number of other brokerages also recently commented on AKRX. Zacks Investment Research upgraded shares of Akorn from a strong sell rating to a hold rating in a research report on Tuesday, October 24th. Jefferies Group set a $34.00 price objective on shares of Akorn and gave the company a hold rating in a research report on Sunday, October 29th. Piper Jaffray Companies set a $34.00 price objective on shares of Akorn and gave the company a hold rating in a research report on Sunday, October 22nd. Finally, Royal Bank of Canada restated a hold rating and issued a $34.00 price objective on shares of Akorn in a research report on Tuesday, October 3rd. Two equities research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $29.17.
Shares of Akorn (AKRX) opened at $33.55 on Thursday. The company has a debt-to-equity ratio of 0.92, a current ratio of 4.16 and a quick ratio of 3.17. The company has a market cap of $4,200.00, a PE ratio of 56.86, a P/E/G ratio of 1.73 and a beta of 1.33. Akorn has a 12-month low of $17.74 and a 12-month high of $34.00.
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 transaction of $503,585.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 28.20% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Akorn by 22.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,228 shares of the company’s stock valued at $108,000 after acquiring an additional 599 shares during the period. Victory Capital Management Inc. lifted its position in shares of Akorn by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 4,177 shares of the company’s stock valued at $140,000 after acquiring an additional 626 shares during the period. LMR Partners LLP acquired a new stake in shares of Akorn during the 3rd quarter valued at approximately $200,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Akorn during the 2nd quarter valued at approximately $209,000. Finally, Suntrust Banks Inc. acquired a new stake in shares of Akorn during the 2nd quarter valued at approximately $234,000. Institutional investors own 73.44% of the company’s stock.
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Akorn Company Profile
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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