Akorn, Inc. (NASDAQ:AKRX) gapped up prior to trading on Friday . The stock had previously closed at $3.58, but opened at $3.57. Akorn shares last traded at $3.77, with a volume of 78435 shares trading hands.
AKRX has been the topic of a number of analyst reports. Zacks Investment Research lowered shares of Akorn from a “hold” rating to a “sell” rating in a research note on Friday, December 7th. BidaskClub upgraded shares of Akorn from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 6th. Piper Jaffray Companies upgraded shares of Akorn from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $5.00 to $9.00 in a research report on Wednesday, October 17th. Royal Bank of Canada set a $9.00 target price on shares of Akorn and gave the company a “hold” rating in a research report on Wednesday, November 7th. Finally, Craig Hallum upgraded shares of Akorn from a “hold” rating to a “buy” rating in a research report on Thursday, October 4th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $13.67.
The company has a debt-to-equity ratio of 1.26, a current ratio of 3.47 and a quick ratio of 2.46.
Akorn (NASDAQ:AKRX) last released its quarterly earnings data on Tuesday, November 6th. The company reported ($0.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.17). Akorn had a negative return on equity of 14.97% and a negative net margin of 34.69%. The business had revenue of $165.63 million for the quarter, compared to analyst estimates of $185.36 million. Analysts anticipate that Akorn, Inc. will post -0.13 earnings per share for the current year.
In other news, EVP Joseph Bonaccorsi bought 25,000 shares of the stock in a transaction dated Friday, December 14th. The stock was bought at an average price of $4.48 per share, for a total transaction of $112,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.50% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. State of Alaska Department of Revenue bought a new stake in Akorn in the fourth quarter valued at $107,000. Retirement Systems of Alabama raised its position in Akorn by 383.0% in the 4th quarter. Retirement Systems of Alabama now owns 587,300 shares of the company’s stock worth $1,991,000 after buying an additional 465,709 shares during the last quarter. Vanguard Group Inc raised its position in Akorn by 1.7% in the 3rd quarter. Vanguard Group Inc now owns 8,545,884 shares of the company’s stock worth $110,926,000 after buying an additional 141,746 shares during the last quarter. Marshall Wace LLP raised its position in Akorn by 44.9% in the 3rd quarter. Marshall Wace LLP now owns 2,998,492 shares of the company’s stock worth $38,920,000 after buying an additional 929,107 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Akorn by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 8,545,884 shares of the company’s stock worth $110,926,000 after buying an additional 141,746 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.
TRADEMARK VIOLATION WARNING: This news story was reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this news story on another publication, it was copied illegally and reposted in violation of United States and international trademark & copyright legislation. The legal version of this news story can be viewed at https://www.dispatchtribunal.com/2019/01/11/akorn-akrx-shares-gap-up-to-3-57.html.
Akorn Company Profile (NASDAQ:AKRX)
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.
Recommended Story: Catch-Up Contributions
Receive News & Ratings for Akorn Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akorn and related companies with MarketBeat.com's FREE daily email newsletter.