Akorn, Inc. (AKRX) Receives $8.00 Consensus PT from Analysts

Akorn, Inc. (NASDAQ:AKRX) has received a consensus rating of “Hold” from the ten ratings firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $8.00.

Several analysts recently weighed in on the stock. BidaskClub downgraded shares of Akorn from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 28th. Royal Bank of Canada set a $10.00 price target on shares of Akorn and gave the stock a “hold” rating in a research note on Tuesday, October 2nd. Deutsche Bank restated a “buy” rating on shares of Akorn in a research note on Thursday, August 23rd. Piper Jaffray Companies set a $5.00 price target on shares of Akorn and gave the stock a “hold” rating in a research note on Tuesday, October 2nd. Finally, ValuEngine upgraded shares of Akorn from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd.

Akorn stock traded down $0.13 during trading on Friday, hitting $6.73. The company had a trading volume of 95,074 shares, compared to its average volume of 1,926,956. Akorn has a 1-year low of $5.25 and a 1-year high of $33.63. The company has a current ratio of 3.47, a quick ratio of 2.46 and a debt-to-equity ratio of 1.26.

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

Large investors have recently bought and sold shares of the business. BlackRock Inc. lifted its position in shares of Akorn by 30.6% during the 2nd quarter. BlackRock Inc. now owns 10,731,745 shares of the company’s stock worth $178,040,000 after purchasing an additional 2,515,409 shares during the last quarter. Paulson & CO. Inc. purchased a new stake in shares of Akorn during the 2nd quarter worth $29,198,000. Marshall Wace LLP lifted its position in shares of Akorn by 250.5% during the 2nd quarter. Marshall Wace LLP now owns 2,069,385 shares of the company’s stock worth $34,331,000 after purchasing an additional 1,478,959 shares during the last quarter. PointState Capital LP lifted its position in shares of Akorn by 933.8% during the 2nd quarter. PointState Capital LP now owns 1,255,027 shares of the company’s stock worth $20,821,000 after purchasing an additional 1,133,627 shares during the last quarter. Finally, Arrowgrass Capital Partners US LP purchased a new stake in shares of Akorn during the 2nd quarter worth $17,435,000. Institutional investors and hedge funds own 65.00% of the company’s stock.

About Akorn

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.

Further Reading: Liquidity

Analyst Recommendations for Akorn (NASDAQ:AKRX)

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

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit