Akorn (AKRX) Rating Lowered to Strong Sell at BidaskClub

BidaskClub lowered shares of Akorn (NASDAQ:AKRX) from a sell rating to a strong sell rating in a research note published on Friday.

Several other research firms have also recently weighed in on AKRX. Deutsche Bank reiterated a hold rating on shares of Akorn in a report on Thursday, April 12th. Royal Bank of Canada set a $25.00 price objective on Akorn and gave the company a hold rating in a report on Thursday, March 29th. Zacks Investment Research cut Akorn from a hold rating to a sell rating in a report on Wednesday, January 31st. Piper Jaffray set a $34.00 price objective on Akorn and gave the company a hold rating in a report on Wednesday, March 7th. Finally, William Blair reiterated a hold rating on shares of Akorn in a report on Thursday, March 1st. Two analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The company presently has an average rating of Hold and a consensus price target of $31.75.

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NASDAQ:AKRX opened at $18.69 on Friday. Akorn has a fifty-two week low of $16.79 and a fifty-two week high of $34.00. The company has a current ratio of 4.27, a quick ratio of 3.19 and a debt-to-equity ratio of 0.98. The stock has a market cap of $2,308.51, a PE ratio of 8.61, a price-to-earnings-growth ratio of 0.85 and a beta of 1.68.

In other Akorn news, major shareholder John N. Kapoor sold 13,629 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $32.67, for a total value of $445,259.43. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 28.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AKRX. Ameriprise Financial Inc. lifted its stake in Akorn by 26.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 332,030 shares of the company’s stock valued at $11,019,000 after acquiring an additional 68,844 shares in the last quarter. Great West Life Assurance Co. Can lifted its stake in Akorn by 8.6% in the 3rd quarter. Great West Life Assurance Co. Can now owns 56,302 shares of the company’s stock valued at $1,867,000 after acquiring an additional 4,455 shares in the last quarter. Legal & General Group Plc lifted its stake in Akorn by 17.6% in the 3rd quarter. Legal & General Group Plc now owns 78,148 shares of the company’s stock valued at $2,594,000 after acquiring an additional 11,689 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Akorn by 13.2% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 379,544 shares of the company’s stock valued at $12,598,000 after acquiring an additional 44,179 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its stake in Akorn by 29.8% in the 3rd quarter. Janus Henderson Group PLC now owns 38,555 shares of the company’s stock valued at $1,280,000 after acquiring an additional 8,856 shares in the last quarter. Hedge funds and other institutional investors own 78.24% of the company’s stock.

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Akorn Company Profile

Akorn, Inc, a specialty generic pharmaceutical company, develops, manufactures, and markets generic and branded prescription pharmaceuticals, over-the-counter (OTC) consumer health products, and animal health pharmaceuticals in the United States and internationally. The company operates in two segments, Prescription Pharmaceuticals and Consumer Health.

Analyst Recommendations for Akorn (NASDAQ:AKRX)

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