Akorn (AKRX) Rating Lowered to Strong Sell at BidaskClub

Akorn (NASDAQ:AKRX) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Saturday.

Other equities analysts also recently issued reports about the company. Jefferies Group set a $34.00 price objective on Akorn and gave the company a “hold” rating in a research report on Sunday, October 29th. Zacks Investment Research upgraded Akorn from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 24th. Piper Jaffray Companies set a $34.00 price objective on Akorn and gave the company a “hold” rating in a research report on Sunday, October 22nd. Finally, Royal Bank of Canada restated a “hold” rating and issued a $34.00 price objective on shares of Akorn in a research report on Tuesday, October 3rd. Two analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $29.17.

Akorn (AKRX) opened at $33.01 on Friday. Akorn has a 52-week low of $17.74 and a 52-week high of $34.00. The company has a market capitalization of $4,128.59, a PE ratio of 33.34, a PEG ratio of 1.70 and a beta of 1.33. The company has a debt-to-equity ratio of 0.92, a current ratio of 4.16 and a quick ratio of 3.17.

In related news, Director Brian Tambi sold 15,100 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $33.35, for a total value of $503,585.00. The transaction was disclosed in a filing with the SEC, which is available through this link. 28.20% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue purchased a new stake in shares of Akorn in the fourth quarter worth about $199,000. Schwab Charles Investment Management Inc. lifted its position in shares of Akorn by 6.4% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 403,983 shares of the company’s stock worth $13,021,000 after buying an additional 24,439 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Akorn by 5,673.2% in the fourth quarter. Bank of Montreal Can now owns 160,554 shares of the company’s stock worth $5,175,000 after buying an additional 157,773 shares in the last quarter. Athos Capital Ltd purchased a new stake in shares of Akorn in the third quarter worth about $2,872,000. Finally, California Public Employees Retirement System lifted its position in shares of Akorn by 1.0% in the third quarter. California Public Employees Retirement System now owns 271,100 shares of the company’s stock worth $8,998,000 after buying an additional 2,600 shares in the last quarter. Institutional investors own 73.44% of the company’s stock.

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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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