Akorn, Inc. (AKRX) Receives Consensus Rating of “Hold” from Brokerages

Akorn, Inc. (NASDAQ:AKRX) has earned a consensus rating of “Hold” from the fourteen analysts that are currently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $29.38.

AKRX has been the topic of a number of research reports. BidaskClub cut shares of Akorn from a “sell” rating to a “strong sell” rating in a report on Saturday, August 19th. Royal Bank Of Canada set a $34.00 target price on shares of Akorn and gave the company a “hold” rating in a report on Sunday, July 30th. Piper Jaffray Companies set a $34.00 target price on shares of Akorn and gave the company a “hold” rating in a report on Tuesday, August 29th. Zacks Investment Research cut shares of Akorn from a “hold” rating to a “strong sell” rating in a report on Friday, August 25th. Finally, TheStreet cut shares of Akorn from a “b-” rating to a “c” rating in a report on Tuesday, August 1st.

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Several institutional investors and hedge funds have recently added to or reduced their stakes in AKRX. Teachers Advisors LLC grew its position in shares of Akorn by 1.8% during the 1st quarter. Teachers Advisors LLC now owns 155,688 shares of the company’s stock valued at $3,749,000 after purchasing an additional 2,727 shares in the last quarter. Legal & General Group Plc grew its position in shares of Akorn by 113.4% during the 1st quarter. Legal & General Group Plc now owns 55,381 shares of the company’s stock valued at $1,334,000 after purchasing an additional 29,429 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Akorn by 3.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,142,067 shares of the company’s stock valued at $27,501,000 after purchasing an additional 37,537 shares in the last quarter. KCG Holdings Inc. purchased a new position in shares of Akorn during the 1st quarter valued at $318,000. Finally, Schwab Charles Investment Management Inc. grew its position in shares of Akorn by 21.4% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 315,901 shares of the company’s stock valued at $7,607,000 after purchasing an additional 55,746 shares in the last quarter. Hedge funds and other institutional investors own 74.66% of the company’s stock.

Shares of Akorn (NASDAQ AKRX) opened at $33.40 on Monday. The company has a quick ratio of 3.17, a current ratio of 4.16 and a debt-to-equity ratio of 0.92. The company has a market cap of $4,177.36, a P/E ratio of 20.75, a P/E/G ratio of 1.99 and a beta of 1.33. Akorn has a 1-year low of $17.61 and a 1-year high of $34.00.

Akorn Company Profile

Akorn Inc (Akorn), together with its subsidiaries, is a specialty generic pharmaceutical company that develops, manufactures and markets generic and branded prescription pharmaceuticals, as well as private-label over-the-counter (OTC) consumer health products and animal health pharmaceuticals. The Company operates through two segments: Prescription Pharmaceuticals and the Consumer Health.

Analyst Recommendations for Akorn (NASDAQ:AKRX)

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