Akorn, Inc. (NASDAQ:AKRX)’s share price gapped down before the market opened on Friday . The stock had previously closed at $5.06, but opened at $5.59. Akorn shares last traded at $4.41, with a volume of 1320772 shares traded.

A number of equities research analysts have recently issued reports on AKRX shares. BidaskClub cut shares of Akorn from a “strong-buy” rating to a “buy” rating in a research report on Friday. Zacks Investment Research downgraded Akorn from a “hold” rating to a “sell” rating in a research note on Friday. Piper Jaffray Companies set a $5.00 price target on Akorn and gave the company a “hold” rating in a research note on Tuesday, October 2nd. Royal Bank of Canada set a $9.00 price target on Akorn and gave the company a “hold” rating in a research note on Wednesday, November 7th. Finally, ValuEngine raised Akorn from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $14.67.

The company has a debt-to-equity ratio of 1.26, a current ratio of 3.47 and a quick ratio of 2.46.

Akorn (NASDAQ:AKRX) last announced its earnings results on Tuesday, November 6th. The company reported ($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.17). The company had revenue of $165.63 million during the quarter, compared to the consensus estimate of $185.36 million. Akorn had a negative net margin of 34.69% and a negative return on equity of 14.97%. As a group, analysts forecast that Akorn, Inc. will post -0.13 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP raised its position in Akorn by 44.9% in the 3rd quarter. Marshall Wace LLP now owns 2,998,492 shares of the company’s stock valued at $38,920,000 after buying an additional 929,107 shares during the last quarter. Vanguard Group Inc. raised its position in Akorn by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 8,545,884 shares of the company’s stock valued at $110,926,000 after buying an additional 141,746 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in Akorn by 10.6% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 360,219 shares of the company’s stock valued at $4,676,000 after buying an additional 34,409 shares during the last quarter. Teachers Advisors LLC raised its position in Akorn by 47.7% in the 3rd quarter. Teachers Advisors LLC now owns 346,747 shares of the company’s stock valued at $4,501,000 after buying an additional 112,010 shares during the last quarter. Finally, Exane Asset Management purchased a new stake in Akorn in the 3rd quarter valued at $1,786,000. 65.00% of the stock is owned by institutional investors and hedge funds.

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Akorn Company Profile (NASDAQ:AKRX)

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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