BidaskClub lowered shares of Akorn (NASDAQ:AKRX) from a sell rating to a strong sell rating in a research report report published on Saturday morning.

A number of other brokerages have also recently issued reports on AKRX. Zacks Investment Research raised Akorn from a strong sell rating to a hold rating in a report on Tuesday, October 24th. Jefferies Group set a $34.00 price target on Akorn and gave the company a hold rating in a research note on Sunday, October 29th. Piper Jaffray Companies set a $34.00 price target on Akorn and gave the company a hold rating in a research note on Sunday, October 22nd. Finally, Royal Bank of Canada reissued a hold rating and issued a $34.00 price target on shares of Akorn in a research note on Tuesday, October 3rd. Two investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. Akorn has an average rating of Hold and a consensus price target of $29.17.

Shares of Akorn (NASDAQ:AKRX) traded down $0.05 on Friday, reaching $33.01. The company’s stock had a trading volume of 1,865,843 shares, compared to its average volume of 1,404,936. Akorn has a fifty-two week low of $17.74 and a fifty-two week high of $34.00. The company has a current ratio of 4.16, a quick ratio of 3.17 and a debt-to-equity ratio of 0.92. The firm has a market cap of $4,128.59, a PE ratio of 20.50, a PEG ratio of 1.70 and a beta of 1.33.

In other news, Director Brian Tambi sold 15,100 shares of the 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 28.20% of the company’s stock.

Several hedge funds have recently modified their holdings of AKRX. State of Alaska Department of Revenue acquired a new stake in Akorn during the fourth quarter worth approximately $199,000. Schwab Charles Investment Management Inc. grew its stake in Akorn by 6.4% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 403,983 shares of the company’s stock worth $13,021,000 after purchasing an additional 24,439 shares during the period. Bank of Montreal Can grew its stake in Akorn by 5,673.2% during the fourth quarter. Bank of Montreal Can now owns 160,554 shares of the company’s stock worth $5,175,000 after purchasing an additional 157,773 shares during the period. Athos Capital Ltd acquired a new stake in Akorn during the third quarter worth approximately $2,872,000. Finally, California Public Employees Retirement System grew its stake in Akorn by 1.0% during the third quarter. California Public Employees Retirement System now owns 271,100 shares of the company’s stock worth $8,998,000 after purchasing an additional 2,600 shares during the period. 73.44% of the stock is owned by institutional investors.

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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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