Akorn, Inc. (NASDAQ:AKRX) has earned a consensus rating of “Hold” from the ten analysts that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $8.00.
AKRX has been the subject of several research reports. Piper Jaffray Companies raised Akorn from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $5.00 to $9.00 in a research report on Wednesday, October 17th. Jefferies Financial Group reduced their target price on Akorn to $6.00 and set a “hold” rating for the company in a research report on Wednesday, October 3rd. Deutsche Bank reaffirmed a “buy” rating on shares of Akorn in a research report on Thursday, August 23rd. Zacks Investment Research cut Akorn from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, BidaskClub raised Akorn from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 6th.
Institutional investors have recently added to or reduced their stakes in the business. Riverhead Capital Management LLC acquired a new position in Akorn during the second quarter worth $100,000. Meadow Creek Investment Management LLC acquired a new position in Akorn during the second quarter worth $157,000. Tower Research Capital LLC TRC raised its stake in Akorn by 672.9% during the third quarter. Tower Research Capital LLC TRC now owns 10,280 shares of the company’s stock worth $134,000 after acquiring an additional 8,950 shares in the last quarter. Brown Advisory Inc. acquired a new position in Akorn during the third quarter worth $139,000. Finally, Baird Financial Group Inc. acquired a new position in Akorn during the third quarter worth $135,000. Hedge funds and other institutional investors own 67.92% of the company’s stock.
Shares of AKRX stock opened at $6.93 on Friday. Akorn has a one year low of $5.25 and a one year high of $33.63. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.46 and a current ratio of 3.47.
Akorn (NASDAQ:AKRX) last issued its earnings results on Tuesday, November 6th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.17). The firm had revenue of $165.63 million during the quarter, compared to the consensus estimate of $185.36 million. Akorn had a negative return on equity of 14.97% and a negative net margin of 34.69%. On average, sell-side analysts anticipate that Akorn will post -0.13 EPS for the current fiscal 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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