Akorn (NASDAQ:AKRX) saw some unusual options trading activity on Tuesday. Investors bought 11,008 put options on the stock. This is an increase of 1,455% compared to the average volume of 708 put options.
Several analysts recently commented on the stock. BidaskClub raised shares of Akorn from a “strong sell” rating to a “sell” rating in a research report on Thursday, January 11th. Zacks Investment Research downgraded shares of Akorn from a “hold” rating to a “sell” rating in a research report on Wednesday, January 24th. Deutsche Bank set a $34.00 price objective on shares of Akorn and gave the company a “hold” rating in a research report on Thursday, February 22nd. Royal Bank of Canada set a $25.00 price objective on shares of Akorn and gave the company a “hold” rating in a research report on Thursday, March 29th. Finally, Piper Jaffray set a $34.00 price target on shares of Akorn and gave the company a “hold” rating in a report on Wednesday, March 7th. Two analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $28.20.
Shares of NASDAQ AKRX opened at $13.24 on Wednesday. The company has a current ratio of 4.27, a quick ratio of 3.19 and a debt-to-equity ratio of 0.98. The stock has a market cap of $1,634.62, a PE ratio of 8.11, a P/E/G ratio of 1.05 and a beta of 1.69. Akorn has a 52-week low of $12.40 and a 52-week high of $33.95.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of Akorn by 2.8% during the 4th quarter. BlackRock Inc. now owns 7,958,348 shares of the company’s stock valued at $256,496,000 after acquiring an additional 215,686 shares during the last quarter. Twin Securities Inc. boosted its holdings in shares of Akorn by 190.8% during the 4th quarter. Twin Securities Inc. now owns 3,767,422 shares of the company’s stock valued at $121,424,000 after acquiring an additional 2,471,711 shares during the last quarter. Gardner Lewis Asset Management L P boosted its holdings in shares of Akorn by 65.0% during the 4th quarter. Gardner Lewis Asset Management L P now owns 3,670,371 shares of the company’s stock valued at $118,296,000 after acquiring an additional 1,445,923 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Akorn by 5.2% in the 4th quarter. Renaissance Technologies LLC now owns 2,832,600 shares of the company’s stock worth $91,295,000 after purchasing an additional 139,100 shares during the period. Finally, Deutsche Bank AG lifted its stake in shares of Akorn by 8.7% in the 4th quarter. Deutsche Bank AG now owns 2,037,471 shares of the company’s stock worth $65,666,000 after purchasing an additional 163,367 shares during the period. 78.08% of the stock is currently owned by hedge funds and other institutional investors.
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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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