Akorn, Inc. (NASDAQ:AKRX) has been assigned an average recommendation of “Hold” from the nine analysts that are presently covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $6.80.

AKRX has been the topic of several analyst reports. Piper Jaffray Companies set a $8.00 target price on Akorn and gave the company a “buy” rating in a research report on Friday, March 1st. BidaskClub cut Akorn from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 6th. Royal Bank of Canada set a $4.00 target price on Akorn and gave the company a “hold” rating in a research report on Friday, March 1st. SunTrust Banks assumed coverage on Akorn in a research report on Tuesday, March 19th. They issued a “hold” rating and a $4.00 price objective on the stock. Finally, Zacks Investment Research cut Akorn from a “hold” rating to a “sell” rating in a research report on Thursday, April 25th.

Shares of NASDAQ:AKRX traded down $0.08 during mid-day trading on Tuesday, hitting $4.65. 1,966,200 shares of the company traded hands, compared to its average volume of 2,523,430. The stock has a market cap of $601.56 million, a PE ratio of -12.92 and a beta of 1.77. The company has a debt-to-equity ratio of 2.31, a quick ratio of 2.30 and a current ratio of 3.26. Akorn has a 12-month low of $2.64 and a 12-month high of $19.65. The firm’s 50-day moving average price is $4.29.

Akorn (NASDAQ:AKRX) last announced its earnings results on Tuesday, May 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.18) by $0.08. The company had revenue of $165.90 million for the quarter, compared to analysts’ expectations of $153.01 million. Akorn had a negative return on equity of 13.92% and a negative net margin of 67.38%. The business’s revenue was down 9.9% on a year-over-year basis. As a group, research analysts forecast that Akorn will post -0.36 earnings per share for the current year.

In other Akorn news, Director Alan D. Weinstein acquired 50,000 shares of the business’s stock in a transaction on Friday, May 31st. The shares were acquired at an average price of $3.97 per share, with a total value of $198,500.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven J. Meyer acquired 15,000 shares of the business’s stock in a transaction on Monday, May 20th. The stock was acquired at an average cost of $4.10 per share, for a total transaction of $61,500.00. The disclosure for this purchase can be found here. In the last three months, insiders acquired 85,000 shares of company stock worth $337,800. Insiders own 3.90% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Arizona State Retirement System increased its stake in Akorn by 117.0% during the 4th quarter. Arizona State Retirement System now owns 144,942 shares of the company’s stock valued at $491,000 after buying an additional 78,135 shares during the period. Rhumbline Advisers increased its stake in Akorn by 44.3% during the 4th quarter. Rhumbline Advisers now owns 327,768 shares of the company’s stock valued at $1,111,000 after buying an additional 100,602 shares during the period. SG Americas Securities LLC increased its stake in Akorn by 55.5% during the 4th quarter. SG Americas Securities LLC now owns 240,084 shares of the company’s stock valued at $814,000 after buying an additional 85,729 shares during the period. Oregon Public Employees Retirement Fund increased its stake in Akorn by 228.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 121,338 shares of the company’s stock valued at $36,000 after buying an additional 84,363 shares during the period. Finally, Comerica Bank increased its stake in Akorn by 52.2% during the 4th quarter. Comerica Bank now owns 91,024 shares of the company’s stock valued at $372,000 after buying an additional 31,225 shares during the period. 66.82% of the stock is currently owned by institutional investors and hedge funds.

Akorn Company Profile

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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Analyst Recommendations for Akorn (NASDAQ:AKRX)

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