BidaskClub cut shares of Akorn (NASDAQ:AKRX) from a strong-buy rating to a buy rating in a research report report published on Friday morning.
Other analysts also recently issued reports about the stock. Piper Jaffray Companies set a $5.00 target price on shares of Akorn and gave the stock a hold rating in a report on Tuesday, October 2nd. Royal Bank of Canada set a $10.00 target price on shares of Akorn and gave the stock a hold rating in a report on Tuesday, October 2nd. Zacks Investment Research upgraded shares of Akorn from a sell rating to a hold rating in a report on Monday, November 19th. Craig Hallum upgraded shares of Akorn from a hold rating to a buy rating in a report on Thursday, October 4th. Finally, ValuEngine upgraded shares of Akorn from a sell rating to a hold rating in a report on Tuesday, October 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. Akorn presently has an average rating of Hold and an average target price of $14.67.
Shares of AKRX stock opened at $4.26 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.46 and a current ratio of 3.47. Akorn has a 52 week low of $3.54 and a 52 week high of $33.63.
Akorn (NASDAQ:AKRX) last announced its earnings results on Tuesday, November 6th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.17). The company had revenue of $165.63 million for the quarter, compared to analyst estimates of $185.36 million. Akorn had a negative return on equity of 14.97% and a negative net margin of 34.69%. Equities research analysts forecast that Akorn will post -0.13 earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of AKRX. BlackRock Inc. raised 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 shares of Akorn in the second quarter valued at approximately $29,198,000. Marshall Wace LLP raised its holdings in shares of Akorn by 250.5% in the second quarter. Marshall Wace LLP now owns 2,069,385 shares of the company’s stock valued at $34,331,000 after purchasing an additional 1,478,959 shares during the last quarter. PointState Capital LP raised its holdings in shares of Akorn by 933.8% in the second quarter. PointState Capital LP now owns 1,255,027 shares of the company’s stock valued at $20,821,000 after purchasing an additional 1,133,627 shares during the last quarter. Finally, Arrowgrass Capital Partners US LP acquired a new stake in shares of Akorn in the second quarter valued at approximately $17,435,000. Institutional investors own 65.00% of the company’s stock.
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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