Akorn (NASDAQ:AKRX) PT Raised to $27.00

Akorn (NASDAQ:AKRX) had its price objective lifted by research analysts at Royal Bank of Canada from $25.00 to $27.00 in a research note issued to investors on Wednesday, July 25th, Marketbeat reports. The brokerage currently has a “hold” rating on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 45.24% from the company’s previous close.

A number of other brokerages have also issued reports on AKRX. BidaskClub lowered shares of Akorn from a “sell” rating to a “strong sell” rating in a research report on Friday, April 13th. Zacks Investment Research upgraded shares of Akorn from a “sell” rating to a “hold” rating in a research report on Monday, July 9th. ValuEngine cut shares of Akorn from a “hold” rating to a “sell” rating in a report on Friday, May 11th. Deutsche Bank reiterated a “hold” rating on shares of Akorn in a report on Monday, April 30th. Finally, TheStreet cut shares of Akorn from a “c-” rating to a “d” rating in a report on Friday, May 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $28.60.

AKRX stock opened at $18.59 on Wednesday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 2.87 and a current ratio of 3.94. Akorn has a fifty-two week low of $10.76 and a fifty-two week high of $33.63. The stock has a market capitalization of $2.36 billion, a P/E ratio of 11.69, a PEG ratio of 2.96 and a beta of 1.74.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its holdings in Akorn by 30.6% during the second quarter. BlackRock Inc. now owns 10,731,745 shares of the company’s stock valued at $178,040,000 after purchasing an additional 2,515,409 shares during the last quarter. Melqart Asset Management UK Ltd acquired a new position in Akorn during the first quarter valued at approximately $25,964,000. Dimensional Fund Advisors LP grew its holdings in Akorn by 8.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,259,328 shares of the company’s stock valued at $20,892,000 after purchasing an additional 97,377 shares during the last quarter. Alpine Associates Management Inc. grew its holdings in Akorn by 76.2% during the second quarter. Alpine Associates Management Inc. now owns 859,224 shares of the company’s stock valued at $15,062,000 after purchasing an additional 371,624 shares during the last quarter. Finally, Gabelli Funds LLC grew its holdings in Akorn by 5.1% during the second quarter. Gabelli Funds LLC now owns 777,468 shares of the company’s stock valued at $12,898,000 after purchasing an additional 37,774 shares during the last quarter. 65.92% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Akorn (NASDAQ:AKRX)

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