Akorn, Inc. (NASDAQ:AKRX) has been given an average rating of “Hold” by the nine research firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $6.80.
Several equities research analysts have issued reports on the stock. BidaskClub upgraded shares of WhiteHorse Finance from a “sell” rating to a “hold” rating in a research report on Thursday. Zacks Investment Research raised shares of Golub Capital BDC from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Tuesday. Finally, Royal Bank of Canada set a $5.00 price objective on shares of Akorn and gave the company a “hold” rating in a research report on Thursday, May 30th.
In other news, Director Alan D. Weinstein bought 50,000 shares of Akorn stock in a transaction that occurred on Friday, May 31st. The stock was bought at an average cost of $3.97 per share, with a total value of $198,500.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Terry Allison Rappuhn bought 10,000 shares of Akorn stock in a transaction that occurred on Monday, May 13th. The stock was purchased at an average cost of $4.03 per share, with a total value of $40,300.00. The disclosure for this purchase can be found here. Insiders purchased a total of 85,000 shares of company stock valued at $337,800 over the last three months. 3.90% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Factorial Partners LLC grew its holdings in Akorn by 4.5% during the 1st quarter. Factorial Partners LLC now owns 69,500 shares of the company’s stock valued at $245,000 after buying an additional 3,000 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in Akorn by 3.4% during the 4th quarter. Public Employees Retirement System of Ohio now owns 95,040 shares of the company’s stock valued at $322,000 after buying an additional 3,101 shares in the last quarter. MML Investors Services LLC purchased a new stake in Akorn during the 4th quarter valued at approximately $34,000. Moors & Cabot Inc. grew its holdings in Akorn by 100.0% during the 1st quarter. Moors & Cabot Inc. now owns 28,500 shares of the company’s stock valued at $100,000 after buying an additional 14,250 shares in the last quarter. Finally, Hsbc Holdings PLC grew its holdings in Akorn by 37.3% during the 4th quarter. Hsbc Holdings PLC now owns 66,609 shares of the company’s stock valued at $225,000 after buying an additional 18,099 shares in the last quarter. 66.82% of the stock is owned by institutional investors.
NASDAQ AKRX traded down $0.03 during trading hours on Friday, reaching $3.84. 826,343 shares of the company were exchanged, compared to its average volume of 1,354,585. Akorn has a 1 year low of $2.64 and a 1 year high of $19.65. The firm has a 50 day simple moving average of $4.57. The company has a quick ratio of 2.30, a current ratio of 3.26 and a debt-to-equity ratio of 2.31. The company has a market cap of $487.04 million, a PE ratio of -10.67 and a beta of 1.90.
Akorn (NASDAQ:AKRX) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.08. Akorn had a negative net margin of 67.38% and a negative return on equity of 13.92%. The company had revenue of $165.90 million during the quarter, compared to analyst estimates of $153.01 million. The firm’s revenue for the quarter was down 9.9% compared to the same quarter last year. As a group, equities analysts predict that Akorn will post -0.36 EPS for the current year.
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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