Analysts Set Akorn, Inc. (AKRX) PT at $10.25
Akorn, Inc. (NASDAQ:AKRX) has earned an average rating of “Buy” from the ten analysts that are currently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $10.00.
A number of equities research analysts recently commented on AKRX shares. BidaskClub downgraded Akorn from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 18th. Zacks Investment Research upgraded Akorn from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Monday, August 27th. Deutsche Bank reissued a “buy” rating on shares of Akorn in a research note on Thursday, August 23rd. Craig Hallum raised Akorn from a “hold” rating to a “buy” rating in a research note on Thursday, October 4th. Finally, Jefferies Financial Group reduced their price objective on Akorn to $6.00 and set a “hold” rating on the stock in a research note on Wednesday, October 3rd.
Hedge funds and other institutional investors have recently modified their holdings of the business. Paulson & CO. Inc. bought a new stake in Akorn during the second quarter worth approximately $29,198,000. Gabelli Funds LLC increased its stake in Akorn by 5.1% during the second quarter. Gabelli Funds LLC now owns 777,468 shares of the company’s stock worth $12,898,000 after acquiring an additional 37,774 shares during the last quarter. BlueMountain Capital Management LLC bought a new stake in Akorn during the second quarter worth approximately $17,053,000. GABELLI & Co INVESTMENT ADVISERS INC. increased its stake in Akorn by 4.4% during the second quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 478,248 shares of the company’s stock worth $7,934,000 after acquiring an additional 20,127 shares during the last quarter. Finally, Kellner Capital LLC increased its stake in Akorn by 28.5% during the second quarter. Kellner Capital LLC now owns 72,200 shares of the company’s stock worth $1,198,000 after acquiring an additional 16,000 shares during the last quarter. 69.69% of the stock is currently owned by institutional investors.
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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