Akorn, Inc. (AKRX) Receives Consensus Recommendation of “Hold” from Analysts

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Shares of Akorn, Inc. (NASDAQ:AKRX) have been assigned a consensus recommendation of “Hold” from the ten research firms that are presently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $8.00.

A number of analysts have commented on AKRX shares. BidaskClub cut shares of Akorn from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 7th. Zacks Investment Research cut shares of Akorn from a “hold” rating to a “sell” rating in a research note on Tuesday, November 27th. Craig Hallum set a $11.00 target price on shares of Akorn and gave the stock a “buy” rating in a research note on Sunday, December 9th. Piper Jaffray Companies set a $9.00 target price on shares of Akorn and gave the stock a “buy” rating in a research note on Tuesday, November 27th. Finally, Royal Bank of Canada set a $6.00 target price on shares of Akorn and gave the stock a “hold” rating in a research note on Monday, December 10th.

In related news, EVP Joseph Bonaccorsi bought 25,000 shares of the business’s stock in a transaction dated Friday, December 14th. The stock was bought at an average price of $4.48 per share, for a total transaction of $112,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.50% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. MML Investors Services LLC bought a new position in Akorn during the fourth quarter worth about $34,000. Oregon Public Employees Retirement Fund increased its position in Akorn by 228.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 121,338 shares of the company’s stock worth $36,000 after acquiring an additional 84,363 shares during the period. First Citizens Bank & Trust Co. bought a new position in Akorn during the fourth quarter worth about $38,000. Piedmont Investment Advisors Inc. bought a new position in Akorn during the fourth quarter worth about $76,000. Finally, Virtu Financial LLC bought a new position in Akorn during the fourth quarter worth about $87,000. Institutional investors own 66.07% of the company’s stock.

AKRX stock traded up $0.11 during trading hours on Wednesday, reaching $4.44. The stock had a trading volume of 1,191,964 shares, compared to its average volume of 2,378,275. The company has a current ratio of 3.47, a quick ratio of 2.46 and a debt-to-equity ratio of 1.26. Akorn has a fifty-two week low of $3.14 and a fifty-two week high of $31.98.

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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Analyst Recommendations for Akorn (NASDAQ:AKRX)

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