Akorn (AKRX) Stock Rating Upgraded by BidaskClub

Akorn (NASDAQ:AKRX) was upgraded by investment analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Saturday.

Several other research firms have also recently commented on AKRX. Zacks Investment Research cut Akorn from a “hold” rating to a “sell” rating in a research note on Wednesday, January 24th. Deutsche Bank set a $34.00 target price on Akorn and gave the company a “hold” rating in a research note on Thursday, February 22nd. Royal Bank of Canada set a $25.00 target price on Akorn and gave the company a “hold” rating in a research note on Thursday, March 29th. Piper Jaffray set a $34.00 target price on Akorn and gave the company a “hold” rating in a research note on Wednesday, March 7th. Finally, William Blair reissued a “hold” rating on shares of Akorn in a research note on Thursday, March 1st. Two analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $31.75.

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NASDAQ AKRX opened at $19.70 on Friday. The firm has a market capitalization of $2,421.24, a PE ratio of 9.08, a PEG ratio of 1.65 and a beta of 1.69. Akorn has a 52 week low of $16.79 and a 52 week high of $34.00. The company has a quick ratio of 3.19, a current ratio of 4.27 and a debt-to-equity ratio of 0.98.

In other news, major shareholder John N. Kapoor sold 13,629 shares of Akorn stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $32.67, for a total value of $445,259.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 28.20% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of AKRX. Twin Securities Inc. boosted its position in shares of Akorn by 190.8% in the 4th quarter. Twin Securities Inc. now owns 3,767,422 shares of the company’s stock worth $121,424,000 after purchasing an additional 2,471,711 shares during the last quarter. Gardner Lewis Asset Management L P boosted its position in shares of Akorn by 65.0% in the 4th quarter. Gardner Lewis Asset Management L P now owns 3,670,371 shares of the company’s stock worth $118,296,000 after purchasing an additional 1,445,923 shares during the last quarter. Manikay Partners LLC boosted its position in shares of Akorn by 745.1% in the 4th quarter. Manikay Partners LLC now owns 1,500,000 shares of the company’s stock worth $48,345,000 after purchasing an additional 1,322,500 shares during the last quarter. Halcyon Management Partners LP boosted its position in shares of Akorn by 176.7% in the 4th quarter. Halcyon Management Partners LP now owns 433,053 shares of the company’s stock worth $13,958,000 after purchasing an additional 276,530 shares during the last quarter. Finally, NINE MASTS CAPITAL Ltd boosted its position in shares of Akorn by 396.5% in the 4th quarter. NINE MASTS CAPITAL Ltd now owns 298,404 shares of the company’s stock worth $9,618,000 after purchasing an additional 238,304 shares during the last quarter. Institutional investors and hedge funds own 78.24% of the company’s stock.

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About Akorn

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.

Analyst Recommendations for Akorn (NASDAQ:AKRX)

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