Akorn (AKRX) Lowered to “Sell” at ValuEngine

ValuEngine cut shares of Akorn (NASDAQ:AKRX) from a hold rating to a sell rating in a research report released on Friday.

AKRX has been the subject of a number of other reports. TheStreet cut Akorn from a c- rating to a d rating in a report on Friday, May 4th. Zacks Investment Research cut Akorn from a hold rating to a sell rating in a report on Wednesday, January 24th. BidaskClub cut Akorn from a sell rating to a strong sell rating in a report on Friday, April 13th. Piper Jaffray set a $34.00 price target on Akorn and gave the stock a hold rating in a report on Wednesday, March 7th. Finally, William Blair reissued a hold rating on shares of Akorn in a report on Thursday, March 1st. Two equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. The company presently has a consensus rating of Hold and an average price target of $28.20.

Akorn opened at $14.25 on Friday, Marketbeat reports. The company has a quick ratio of 3.37, a current ratio of 4.64 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 8.71, a P/E/G ratio of 1.15 and a beta of 1.71. Akorn has a twelve month low of $14.01 and a twelve month high of $14.34.

Institutional investors and hedge funds have recently modified their holdings of the company. Leisure Capital Management bought a new stake in Akorn during the 1st quarter worth $187,000. State of Alaska Department of Revenue bought a new stake in Akorn during the 4th quarter worth $199,000. OppenheimerFunds Inc. grew its position in Akorn by 65.6% during the 1st quarter. OppenheimerFunds Inc. now owns 13,980 shares of the company’s stock worth $262,000 after acquiring an additional 5,537 shares during the last quarter. Opera Trading Capital bought a new stake in Akorn during the 4th quarter worth $274,000. Finally, ING Groep NV bought a new stake in Akorn during the 4th quarter worth $275,000. Institutional investors own 77.56% of the company’s stock.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Akorn (NASDAQ:AKRX)

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