Akorn, Inc. (NASDAQ:AKRX) has been assigned a $34.00 price objective by analysts at Piper Jaffray Companies in a research note issued on Sunday. The brokerage presently has a “hold” rating on the stock. Piper Jaffray Companies’ price objective indicates a potential upside of 2.16% from the company’s current price.

A number of other analysts have also commented on the company. Royal Bank Of Canada reissued a “hold” rating and set a $34.00 price target on shares of Akorn in a research note on Tuesday, October 3rd. Zacks Investment Research lowered Akorn from a “hold” rating to a “strong sell” rating in a research note on Friday, August 25th. BidaskClub lowered Akorn from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 19th. TheStreet lowered Akorn from a “b-” rating to a “c” rating in a research note on Tuesday, August 1st. Finally, Jefferies Group LLC reissued a “hold” rating and set a $34.00 price target on shares of Akorn in a research note on Wednesday, July 19th. Five analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $28.56.

Shares of Akorn (NASDAQ:AKRX) traded up 0.39% during mid-day trading on Friday, reaching $33.28. The company’s stock had a trading volume of 1,311,566 shares. The firm has a market cap of $4.16 billion, a PE ratio of 33.62 and a beta of 1.40. The company has a 50-day moving average of $33.07 and a 200-day moving average of $32.97. Akorn has a 12 month low of $17.61 and a 12 month high of $34.00.

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In other news, COO Bruce Kutinsky sold 40,000 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $33.46, for a total transaction of $1,338,400.00. Following the completion of the transaction, the chief operating officer now directly owns 317,480 shares in the company, valued at $10,622,880.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brian Tambi sold 5,165 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $33.37, for a total value of $172,356.05. The disclosure for this sale can be found here. 28.20% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of AKRX. UBS Asset Management Americas Inc. raised its position in shares of Akorn by 9.1% during the first quarter. UBS Asset Management Americas Inc. now owns 53,469 shares of the company’s stock worth $1,288,000 after acquiring an additional 4,444 shares during the last quarter. Karp Capital Management Corp bought a new position in shares of Akorn during the first quarter worth about $423,000. Neuberger Berman Group LLC bought a new position in shares of Akorn during the first quarter worth about $945,000. Principal Financial Group Inc. raised its position in shares of Akorn by 1.9% during the first quarter. Principal Financial Group Inc. now owns 358,781 shares of the company’s stock worth $8,639,000 after acquiring an additional 6,556 shares during the last quarter. Finally, FMR LLC raised its position in shares of Akorn by 54.0% during the first quarter. FMR LLC now owns 3,560,997 shares of the company’s stock worth $85,748,000 after acquiring an additional 1,249,329 shares during the last quarter. Institutional investors own 69.98% of the company’s stock.

About Akorn

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.

Analyst Recommendations for Akorn (NASDAQ:AKRX)

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