Akorn (NASDAQ:AKRX) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Thursday.

Several other analysts have also commented on AKRX. Royal Bank of Canada reiterated a “sector perform” rating and issued a $34.00 price target on shares of Akorn in a research report on Sunday, August 20th. Zacks Investment Research lowered shares of Akorn from a “hold” rating to a “strong sell” rating in a research report on Friday, August 25th. Piper Jaffray Companies set a $34.00 target price on shares of Akorn and gave the stock a “hold” rating in a research report on Tuesday, August 29th. Finally, Jefferies Group set a $34.00 target price on shares of Akorn and gave the stock a “hold” rating in a research report on Sunday, October 29th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $30.71.

Shares of Akorn (NASDAQ AKRX) opened at $32.36 on Thursday. The company has a market cap of $4,029.77, a P/E ratio of 20.01, a PEG ratio of 2.01 and a beta of 1.33. Akorn has a 1 year low of $17.74 and a 1 year high of $34.00. The company has a debt-to-equity ratio of 0.92, a current ratio of 4.16 and a quick ratio of 3.17.

In related news, Director Brian Tambi sold 15,100 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $33.35, for a total transaction of $503,585.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 28.20% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in AKRX. Aperio Group LLC boosted its holdings in shares of Akorn by 41.0% in the 2nd quarter. Aperio Group LLC now owns 24,791 shares of the company’s stock valued at $831,000 after purchasing an additional 7,206 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its holdings in shares of Akorn by 0.8% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 19,534 shares of the company’s stock valued at $655,000 after purchasing an additional 158 shares during the last quarter. Great West Life Assurance Co. Can boosted its holdings in shares of Akorn by 0.7% in the 2nd quarter. Great West Life Assurance Co. Can now owns 51,847 shares of the company’s stock valued at $1,738,000 after purchasing an additional 340 shares during the last quarter. World Asset Management Inc acquired a new position in shares of Akorn in the 2nd quarter valued at $210,000. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of Akorn by 1,058.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 139,000 shares of the company’s stock valued at $4,662,000 after purchasing an additional 127,000 shares during the last quarter. Institutional investors own 73.53% of the company’s stock.

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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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