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

AKRX has been the subject of several other reports. Zacks Investment Research lowered Akorn from a buy rating to a hold rating in a report on Tuesday, July 16th. Royal Bank of Canada set a $5.00 target price on Akorn and gave the stock a hold rating in a report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $6.58.

AKRX opened at $2.71 on Wednesday. The business has a 50 day moving average price of $3.96 and a 200 day moving average price of $3.87. Akorn has a twelve month low of $2.34 and a twelve month high of $19.55. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.36 and a current ratio of 0.52. The firm has a market cap of $328.47 million, a P/E ratio of -7.53 and a beta of 1.90.

Akorn (NASDAQ:AKRX) last posted its earnings results on Thursday, August 1st. The company reported ($0.02) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.09. Akorn had a negative return on equity of 17.88% and a negative net margin of 72.25%. The firm had revenue of $178.00 million during the quarter, compared to analyst estimates of $171.97 million. The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. As a group, analysts anticipate that Akorn will post -0.38 earnings per share for the current fiscal year.

In other Akorn news, Director Alan D. Weinstein purchased 50,000 shares of the business’s stock in a transaction dated Friday, May 31st. The stock was bought at an average cost of $3.97 per share, for a total transaction of $198,500.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven J. Meyer purchased 15,000 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were acquired at an average price of $4.10 per share, with a total value of $61,500.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 95,000 shares of company stock valued at $349,500. Corporate insiders own 3.90% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC lifted its holdings in shares of Akorn by 20.9% during the second quarter. Renaissance Technologies LLC now owns 8,548,170 shares of the company’s stock worth $44,023,000 after buying an additional 1,476,534 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Akorn by 77.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,648,375 shares of the company’s stock worth $8,978,000 after buying an additional 1,153,675 shares during the last quarter. Canyon Capital Advisors LLC acquired a new position in shares of Akorn during the second quarter worth approximately $12,825,000. Nuveen Asset Management LLC acquired a new position in shares of Akorn during the second quarter worth approximately $10,948,000. Finally, Deutsche Bank AG lifted its holdings in shares of Akorn by 102.7% during the fourth quarter. Deutsche Bank AG now owns 1,886,403 shares of the company’s stock worth $6,393,000 after buying an additional 955,906 shares during the last quarter. Institutional investors own 66.36% of the company’s stock.

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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