Akorn, Inc. (NASDAQ:AKRX) has earned a consensus rating of “Hold” from the nine analysts that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $6.80.
AKRX has been the subject of a number of recent research reports. Royal Bank of Canada set a $5.00 price objective on shares of Akorn and gave the company a “hold” rating in a research report on Monday. BidaskClub downgraded shares of Akorn from a “sell” rating to a “strong sell” rating in a research report on Wednesday. Finally, Zacks Investment Research downgraded shares of Akorn from a “buy” rating to a “hold” rating in a research report on Tuesday, July 16th.
Shares of AKRX stock traded down $0.17 during mid-day trading on Wednesday, reaching $2.64. 1,621,140 shares of the company’s stock traded hands, compared to its average volume of 2,310,649. Akorn has a 12 month low of $2.55 and a 12 month high of $19.56. The firm’s 50 day moving average price is $4.05. The company has a quick ratio of 0.36, a current ratio of 0.52 and a debt-to-equity ratio of 0.08. The stock has a market cap of $334.76 million, a price-to-earnings ratio of -7.33 and a beta of 1.90.
Akorn (NASDAQ:AKRX) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.09. Akorn had a negative net margin of 72.25% and a negative return on equity of 17.88%. The firm had revenue of $178.00 million during the quarter, compared to the consensus estimate of $171.97 million. The business’s revenue was down 6.8% on a year-over-year basis. On average, research analysts anticipate that Akorn will post -0.38 earnings per share for the current year.
In other news, Director Alan D. Weinstein bought 50,000 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The stock was bought at an average price of $3.97 per share, with a total value of $198,500.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Steven J. Meyer bought 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was purchased at an average cost of $3.75 per share, with a total value of $37,500.00. The disclosure for this purchase can be found here. Insiders purchased a total of 75,000 shares of company stock valued at $297,500 in the last ninety days. 3.90% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of AKRX. Bank of New York Mellon Corp boosted its holdings in Akorn by 1.9% in the 4th quarter. Bank of New York Mellon Corp now owns 1,528,004 shares of the company’s stock worth $5,180,000 after buying an additional 29,016 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Akorn by 77.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,648,375 shares of the company’s stock worth $8,978,000 after buying an additional 1,153,675 shares during the period. Geode Capital Management LLC boosted its holdings in Akorn by 11.3% in the 4th quarter. Geode Capital Management LLC now owns 1,132,779 shares of the company’s stock worth $3,839,000 after buying an additional 115,405 shares during the period. Principal Financial Group Inc. boosted its holdings in Akorn by 93.7% in the 4th quarter. Principal Financial Group Inc. now owns 794,082 shares of the company’s stock worth $2,692,000 after buying an additional 384,145 shares during the period. Finally, Squarepoint Ops LLC boosted its holdings in Akorn by 212.2% in the 4th quarter. Squarepoint Ops LLC now owns 68,294 shares of the company’s stock worth $232,000 after buying an additional 46,420 shares during the period. 66.36% of the stock is owned by 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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