Akorn (NASDAQ:AKRX) was upgraded by BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday.
Several other equities research analysts have also recently commented on AKRX. Zacks Investment Research raised Akorn from a “sell” rating to a “hold” rating in a report on Monday, July 9th. Royal Bank of Canada increased their price target on Akorn from $25.00 to $27.00 and gave the company a “hold” rating in a report on Wednesday, July 25th. Deutsche Bank reaffirmed a “buy” rating on shares of Akorn in a report on Thursday, August 23rd. ValuEngine raised Akorn from a “sell” rating to a “hold” rating in a report on Tuesday, October 2nd. Finally, Piper Jaffray Companies set a $5.00 price target on Akorn and gave the company a “hold” rating in a report on Tuesday, October 2nd. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $14.83.
NASDAQ:AKRX opened at $7.39 on Tuesday. Akorn has a one year low of $5.25 and a one year high of $33.63. The company has a debt-to-equity ratio of 1.13, a quick ratio of 2.87 and a current ratio of 3.94.
Several large investors have recently bought and sold shares of AKRX. BlackRock Inc. increased its holdings in shares of Akorn by 30.6% in the second quarter. BlackRock Inc. now owns 10,731,745 shares of the company’s stock valued at $178,040,000 after purchasing an additional 2,515,409 shares during the last quarter. Paulson & CO. Inc. acquired a new stake in Akorn during the second quarter worth $29,198,000. Marshall Wace LLP increased its stake in Akorn by 250.5% during the second quarter. Marshall Wace LLP now owns 2,069,385 shares of the company’s stock worth $34,331,000 after acquiring an additional 1,478,959 shares during the last quarter. PointState Capital LP increased its stake in Akorn by 933.8% during the second quarter. PointState Capital LP now owns 1,255,027 shares of the company’s stock worth $20,821,000 after acquiring an additional 1,133,627 shares during the last quarter. Finally, Arrowgrass Capital Partners US LP acquired a new stake in Akorn during the second quarter worth $17,435,000. 69.69% of the stock is owned by hedge funds and other institutional investors.
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.
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