Akorn (AKRX) Cut to “Strong Sell” at BidaskClub
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.
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.
COPYRIGHT VIOLATION WARNING: This article was first reported by TheOlympiaReport and is owned by of TheOlympiaReport. If you are accessing this article on another site, it was stolen and reposted in violation of US & international copyright & trademark law. The legal version of this article can be viewed at https://theolympiareport.com/2018/01/21/akorn-akrx-cut-to-strong-sell-at-bidaskclub.html.
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.
Receive News & Ratings for Akorn Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akorn and related companies with MarketBeat.com's FREE daily email newsletter.