Akorn (AKRX) Upgraded by BidaskClub to Sell
Akorn (NASDAQ:AKRX) was upgraded by equities researchers at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Thursday.
AKRX has been the subject of several other reports. Royal Bank of Canada reaffirmed a “hold” rating and issued a $34.00 target price on shares of Akorn in a research report on Tuesday, October 3rd. Piper Jaffray Companies set a $34.00 price objective on Akorn and gave the company a “hold” rating in a report on Sunday, October 22nd. Jefferies Group set a $34.00 price objective on Akorn and gave the company a “hold” rating in a report on Sunday, October 29th. Finally, Zacks Investment Research raised Akorn from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 24th. Two analysts have rated the stock with a sell rating and nine have given a hold rating to the company. Akorn has an average rating of “Hold” and a consensus target price of $29.17.
Akorn (AKRX) opened at $33.51 on Thursday. The company has a market capitalization of $4,190.00, a price-to-earnings ratio of 56.80, a P/E/G ratio of 1.67 and a beta of 1.33. Akorn has a 12-month low of $17.74 and a 12-month high of $34.00. The company has a debt-to-equity ratio of 0.92, a current ratio of 4.16 and a quick ratio of 3.17.
Several large investors have recently made changes to their positions in AKRX. Pentwater Capital Management LP acquired a new stake in shares of Akorn in the second quarter valued at $132,148,000. CNH Partners LLC acquired a new stake in shares of Akorn in the second quarter valued at $116,243,000. Cheyne Capital Management UK LLP acquired a new stake in shares of Akorn in the third quarter valued at $1,686,000. Alpine Associates Management Inc. increased its stake in shares of Akorn by 395.7% in the third quarter. Alpine Associates Management Inc. now owns 1,189,216 shares of the company’s stock valued at $39,469,000 after buying an additional 949,316 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Akorn in the second quarter valued at $30,518,000. 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.
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