Akorn, Inc. (NASDAQ:AKRX) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Tuesday, August 1st.
Other equities analysts also recently issued research reports about the company. Royal Bank Of Canada set a $34.00 target price on Akorn and gave the company a “hold” rating in a research report on Saturday, May 27th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $34.00 target price on shares of Akorn in a research report on Wednesday, July 19th. Gabelli reaffirmed a “hold” rating on shares of Akorn in a research report on Tuesday, April 25th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $24.00 target price on shares of Akorn in a research report on Monday, April 10th. Finally, William Blair downgraded Akorn from an “outperform” rating to a “market perform” rating in a research report on Tuesday, April 25th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. Akorn presently has an average rating of “Hold” and a consensus target price of $28.56.
Shares of Akorn (NASDAQ AKRX) traded down 1.90% during mid-day trading on Tuesday, hitting $31.98. The stock had a trading volume of 8,063,576 shares. The stock has a market capitalization of $3.99 billion, a P/E ratio of 32.30 and a beta of 1.36. The stock has a 50 day moving average of $33.45 and a 200-day moving average of $29.53. Akorn has a 52 week low of $17.61 and a 52 week high of $34.00.
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In other Akorn news, COO Bruce Kutinsky sold 40,000 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $33.46, for a total value of $1,338,400.00. Following the sale, the chief operating officer now owns 317,480 shares of the company’s stock, valued at approximately $10,622,880.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Brian Tambi sold 5,165 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were 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. Corporate insiders own 28.20% of the company’s stock.
Several large investors have recently modified their holdings of AKRX. Glen Harbor Capital Management LLC increased its stake in shares of Akorn by 8.3% in the first quarter. Glen Harbor Capital Management LLC now owns 5,304 shares of the company’s stock worth $128,000 after buying an additional 408 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Akorn by 19.9% in the first quarter. Acadian Asset Management LLC now owns 220,796 shares of the company’s stock worth $5,316,000 after buying an additional 36,607 shares in the last quarter. Profund Advisors LLC increased its stake in shares of Akorn by 5.7% in the first quarter. Profund Advisors LLC now owns 15,431 shares of the company’s stock worth $372,000 after buying an additional 838 shares in the last quarter. UMB Bank N A MO increased its stake in shares of Akorn by 19.6% in the first quarter. UMB Bank N A MO now owns 16,500 shares of the company’s stock worth $397,000 after buying an additional 2,700 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. acquired a new stake in shares of Akorn during the first quarter worth $963,000. 71.95% of the stock is currently owned by hedge funds and other institutional investors.
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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