Akorn (AKRX) Lowered to “Strong Sell” at BidaskClub

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.

In other news, Director Brian Tambi sold 15,100 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $33.35, for a total transaction of $503,585.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 28.20% of the stock is currently owned by company insiders.

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.

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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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