BidaskClub upgraded shares of Akorn (NASDAQ:AKRX) from a strong sell rating to a sell rating in a report published on Thursday morning, BidAskClub reports.

A number of other research firms have also recently issued reports on AKRX. Zacks Investment Research cut shares of Akorn from a buy rating to a hold rating in a research report on Tuesday, July 16th. ValuEngine raised shares of Akorn from a hold rating to a buy rating in a research report on Thursday, August 15th. Finally, Royal Bank of Canada set a $5.00 price objective on shares of Akorn and gave the stock a hold rating in a research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $6.58.

Shares of AKRX stock traded down $0.10 on Thursday, reaching $3.64. 2,830,286 shares of the company were exchanged, compared to its average volume of 2,339,524. The company has a market cap of $417.82 million, a price-to-earnings ratio of -10.11 and a beta of 1.91. The company has a 50-day moving average of $3.02 and a 200-day moving average of $3.69. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.52 and a quick ratio of 0.36. Akorn has a one year low of $2.34 and a one year high of $13.81.

Akorn (NASDAQ:AKRX) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.09. The company had revenue of $178.00 million for the quarter, compared to analysts’ expectations of $171.97 million. Akorn had a negative net margin of 72.25% and a negative return on equity of 17.88%. The business’s revenue for the quarter was down 6.8% compared to the same quarter last year. As a group, sell-side analysts predict that Akorn will post -0.38 EPS for the current year.

In related news, Director Steven J. Meyer acquired 20,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were bought at an average price of $2.60 per share, with a total value of $52,000.00. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.90% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in AKRX. Dimensional Fund Advisors LP lifted its position in Akorn by 77.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,648,375 shares of the company’s stock valued at $8,978,000 after acquiring an additional 1,153,675 shares in the last quarter. Moors & Cabot Inc. lifted its position in Akorn by 100.0% in the 1st quarter. Moors & Cabot Inc. now owns 28,500 shares of the company’s stock valued at $100,000 after acquiring an additional 14,250 shares in the last quarter. Spark Investment Management LLC lifted its position in shares of Akorn by 67.1% during the 1st quarter. Spark Investment Management LLC now owns 842,061 shares of the company’s stock worth $2,964,000 after buying an additional 338,061 shares in the last quarter. Sivik Global Healthcare LLC bought a new position in shares of Akorn during the 1st quarter worth approximately $1,287,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Akorn by 85.3% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 856,794 shares of the company’s stock worth $3,016,000 after buying an additional 394,462 shares in the last quarter. 68.28% of the stock is currently owned by institutional investors and hedge funds.

About Akorn

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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