Akorn (AKRX) Rating Increased to Strong-Buy at BidaskClub

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Akorn (NASDAQ:AKRX) was upgraded by investment analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued on Thursday.

AKRX has been the topic of several other research reports. Royal Bank of Canada upped their price target on Akorn from $25.00 to $27.00 and gave the stock a “hold” rating in a research note on Wednesday, July 25th. Deutsche Bank restated a “buy” rating on shares of Akorn in a research note on Thursday, August 23rd. Zacks Investment Research upgraded Akorn from a “sell” rating to a “hold” rating in a research note on Monday, July 9th. Finally, ValuEngine downgraded Akorn from a “hold” rating to a “sell” rating in a research note on Friday, May 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $26.50.

AKRX stock opened at $15.50 on Thursday. Akorn has a fifty-two week low of $10.76 and a fifty-two week high of $33.63. The company has a debt-to-equity ratio of 1.13, a current ratio of 3.94 and a quick ratio of 2.87.

Akorn (NASDAQ:AKRX) last posted its earnings results on Wednesday, August 1st. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.14). Akorn had a negative return on equity of 12.84% and a negative net margin of 24.21%. The firm had revenue of $190.94 million for the quarter, compared to analysts’ expectations of $187.40 million. research analysts expect that Akorn will post 0.37 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of AKRX. Riverhead Capital Management LLC purchased a new stake in shares of Akorn in the 2nd quarter worth approximately $100,000. Meadow Creek Investment Management LLC purchased a new stake in shares of Akorn in the 2nd quarter worth approximately $157,000. Leisure Capital Management purchased a new stake in Akorn during the 1st quarter valued at $187,000. Glen Harbor Capital Management LLC purchased a new stake in Akorn during the 2nd quarter valued at $190,000. Finally, NJ State Employees Deferred Compensation Plan purchased a new stake in Akorn during the 2nd quarter valued at $199,000. Institutional investors own 71.04% 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.

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Analyst Recommendations for Akorn (NASDAQ:AKRX)

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