Piper Jaffray Companies set a $34.00 target price on Akorn, Inc. (NASDAQ:AKRX) in a research report report published on Tuesday. The brokerage currently has a hold rating on the stock.

Several other research analysts also recently commented on AKRX. Zacks Investment Research raised Akorn from a sell rating to a hold rating in a research note on Monday, May 8th. Royal Bank Of Canada set a $34.00 price target on Akorn and gave the stock a hold rating in a report on Saturday, May 27th. BidaskClub upgraded Akorn from a hold rating to a buy rating in a report on Saturday, June 24th. Jefferies Group LLC restated a hold rating and set a $34.00 price target on shares of Akorn in a report on Wednesday, July 19th. Finally, TheStreet cut Akorn from a b- rating to a c rating in a report on Tuesday, August 1st. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. The stock has an average rating of Hold and an average price target of $28.56.

Akorn (AKRX) opened at 32.62 on Tuesday. The firm has a market capitalization of $4.07 billion, a price-to-earnings ratio of 32.95 and a beta of 1.36. Akorn has a 1-year low of $17.61 and a 1-year high of $34.00. The firm’s 50-day moving average is $33.31 and its 200-day moving average is $29.99.

ILLEGAL ACTIVITY WARNING: This article was first published by Watch List News and is owned by of Watch List News. If you are reading this article on another website, it was illegally stolen and reposted in violation of international trademark & copyright laws. The legal version of this article can be accessed at https://www.watchlistnews.com/akorn-inc-akrx-given-a-34-00-price-target-at-piper-jaffray-companies/1531460.html.

In related news, COO Bruce Kutinsky sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $33.46, for a total value of $1,338,400.00. Following the sale, the chief operating officer now directly owns 317,480 shares in the company, valued at $10,622,880.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brian Tambi sold 5,165 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $33.37, for a total value of $172,356.05. The disclosure for this sale can be found here. Corporate insiders own 28.20% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. NEXT Financial Group Inc boosted its stake in shares of Akorn by 990.9% in the first quarter. NEXT Financial Group Inc now owns 3,000 shares of the company’s stock valued at $100,000 after buying an additional 2,725 shares during the last quarter. Meadow Creek Investment Management LLC boosted its stake in shares of Akorn by 8.3% in the first quarter. Meadow Creek Investment Management LLC now owns 4,368 shares of the company’s stock valued at $105,000 after buying an additional 336 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Akorn by 22.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,228 shares of the company’s stock valued at $108,000 after buying an additional 599 shares during the last quarter. Glen Harbor Capital Management LLC boosted its stake in shares of Akorn by 8.3% in the first quarter. Glen Harbor Capital Management LLC now owns 5,304 shares of the company’s stock valued at $128,000 after buying an additional 408 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Akorn by 17.6% in the second quarter. Victory Capital Management Inc. now owns 4,177 shares of the company’s stock valued at $140,000 after buying an additional 626 shares during the last quarter. Institutional investors and hedge funds own 69.71% of the company’s stock.

About Akorn

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)

Receive News & Ratings for Akorn Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akorn Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.