Akorn (NASDAQ:AKRX) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Thursday.
AKRX has been the topic of a number of other research reports. Zacks Investment Research lowered Akorn from a “hold” rating to a “strong sell” rating in a research report on Friday, August 25th. Royal Bank of Canada reissued a “hold” rating and set a $34.00 target price on shares of Akorn in a research report on Tuesday, October 3rd. Piper Jaffray Companies set a $34.00 target price on Akorn and gave the stock a “hold” rating in a research report on Tuesday, August 29th. Finally, Jefferies Group set a $34.00 target price on Akorn and gave the stock a “hold” rating in a research report on Sunday, October 29th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $30.71.
Shares of Akorn (NASDAQ:AKRX) opened at $32.22 on Thursday. The company has a debt-to-equity ratio of 0.92, a current ratio of 4.16 and a quick ratio of 3.17. The stock has a market capitalization of $4,082.30, a PE ratio of 20.27, a price-to-earnings-growth ratio of 2.04 and a beta of 1.33. Akorn has a 12-month low of $17.74 and a 12-month high of $34.00.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Akorn by 22.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,228 shares of the company’s stock worth $108,000 after buying an additional 599 shares during the period. Victory Capital Management Inc. increased its position in Akorn by 17.6% during the second quarter. Victory Capital Management Inc. now owns 4,177 shares of the company’s stock worth $140,000 after buying an additional 626 shares during the period. LMR Partners LLP acquired a new position in Akorn during the third quarter worth approximately $200,000. Cubist Systematic Strategies LLC acquired a new position in Akorn during the second quarter worth approximately $209,000. Finally, World Asset Management Inc acquired a new position in Akorn during the second quarter worth approximately $210,000. 73.53% of the stock is currently owned by institutional investors.
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.
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