Akorn (AKRX) Upgraded to “Sell” at BidaskClub
BidaskClub upgraded shares of Akorn (NASDAQ:AKRX) from a strong sell rating to a sell rating in a research note published on Monday morning.
A number of other research firms have also issued reports on AKRX. Piper Jaffray Companies set a $34.00 price objective on Akorn and gave the company a hold rating in a research report on Sunday, October 22nd. Zacks Investment Research upgraded Akorn from a strong sell rating to a hold rating in a research report on Tuesday, October 24th. Finally, Jefferies Group set a $34.00 price objective on Akorn and gave the company a hold rating in a research report on Sunday, October 29th. Three investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. The stock has an average rating of Hold and an average price target of $29.17.
Akorn (AKRX) opened at $31.75 on Monday. Akorn has a 12-month low of $19.67 and a 12-month high of $34.00. The stock has a market capitalization of $3,999.76, a P/E ratio of 19.86, a P/E/G ratio of 1.65 and a beta of 1.33. The company has a debt-to-equity ratio of 0.92, a quick ratio of 3.17 and a current ratio of 4.16.
Several institutional investors and hedge funds have recently bought and sold shares of AKRX. Teachers Advisors LLC raised its stake in shares of Akorn by 21.2% in the 2nd quarter. Teachers Advisors LLC now owns 188,755 shares of the company’s stock worth $6,331,000 after buying an additional 33,067 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Akorn by 35.6% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 72,496 shares of the company’s stock worth $2,432,000 after buying an additional 19,027 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Akorn by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 7,121,766 shares of the company’s stock worth $238,865,000 after buying an additional 176,397 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of Akorn by 4.2% in the 2nd quarter. California Public Employees Retirement System now owns 268,500 shares of the company’s stock worth $9,005,000 after buying an additional 10,700 shares in the last quarter. Finally, Suntrust Banks Inc. bought a new stake in shares of Akorn in the 2nd quarter worth $234,000. 73.34% of the stock is currently owned by institutional investors.
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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.
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