Akorn (NASDAQ:AKRX) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Saturday.
Several other research firms have also recently commented on AKRX. Piper Jaffray Companies set a $34.00 target price on Akorn and gave the stock a “hold” rating in a research report on Sunday, October 22nd. Zacks Investment Research upgraded Akorn from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 24th. Royal Bank of Canada restated a “hold” rating and set a $34.00 target price on shares of Akorn in a research report on Tuesday, October 3rd. 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 investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $29.17.
Shares of Akorn (NASDAQ:AKRX) opened at $33.01 on Friday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 3.17 and a current ratio of 4.16. Akorn has a one year low of $17.74 and a one year high of $34.00. The stock has a market capitalization of $4,130.00, a price-to-earnings ratio of 55.95, a P/E/G ratio of 1.71 and a beta of 1.33.
Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of Akorn by 2.4% in the 2nd quarter. BlackRock Inc. now owns 9,297,346 shares of the company’s stock worth $311,834,000 after purchasing an additional 216,363 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Akorn by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 7,121,766 shares of the company’s stock worth $238,865,000 after purchasing an additional 176,397 shares in the last quarter. FMR LLC boosted its holdings in shares of Akorn by 22.1% in the 2nd quarter. FMR LLC now owns 4,347,905 shares of the company’s stock worth $145,829,000 after purchasing an additional 786,908 shares in the last quarter. Pentwater Capital Management LP purchased a new position in shares of Akorn in the 2nd quarter worth about $132,148,000. Finally, CNH Partners LLC purchased a new position in shares of Akorn in the 2nd quarter worth about $116,243,000. Hedge funds and other institutional investors own 73.44% of the company’s stock.
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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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