TheStreet lowered shares of Akorn Inc. (NASDAQ:AKRX) from a buy rating to a hold rating in a report issued on Monday.

AKRX has been the subject of several other reports. Jefferies Group reaffirmed a buy rating and issued a $35.00 price objective on shares of Akorn in a report on Monday, August 29th. Piper Jaffray Cos. raised Akorn from a neutral rating to an overweight rating and lifted their price objective for the company from $33.00 to $34.00 in a report on Thursday, September 15th. Zacks Investment Research cut Akorn from a hold rating to a sell rating in a report on Friday, October 21st. JPMorgan Chase & Co. set a $45.00 price objective on Akorn and gave the company a buy rating in a report on Friday, August 5th. Finally, Deutsche Bank AG cut Akorn from a buy rating to a hold rating and set a $33.00 price objective for the company. in a report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $30.47.

Analyst Recommendations for Akorn (NASDAQ:AKRX)

Akorn (NASDAQ:AKRX) opened at 22.16 on Monday. The stock’s 50 day moving average price is $25.14 and its 200 day moving average price is $28.22. Akorn has a 52 week low of $17.57 and a 52 week high of $39.46. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of 14.99 and a beta of 1.15.

Akorn (NASDAQ:AKRX) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.02. The firm earned $284 million during the quarter, compared to analysts’ expectations of $267.04 million. Akorn had a return on equity of 32.92% and a net margin of 16.58%. Akorn’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, equities research analysts predict that Akorn will post $2.24 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. State of Wisconsin Investment Board increased its position in shares of Akorn by 0.4% in the second quarter. State of Wisconsin Investment Board now owns 54,610 shares of the company’s stock valued at $1,556,000 after buying an additional 200 shares during the last quarter. Panagora Asset Management Inc. increased its position in shares of Akorn by 0.5% in the third quarter. Panagora Asset Management Inc. now owns 39,146 shares of the company’s stock valued at $1,067,000 after buying an additional 214 shares during the last quarter. Argent Capital Management LLC increased its position in shares of Akorn by 0.8% in the second quarter. Argent Capital Management LLC now owns 47,650 shares of the company’s stock valued at $1,357,000 after buying an additional 400 shares during the last quarter. Profund Advisors LLC increased its position in shares of Akorn by 3.4% in the second quarter. Profund Advisors LLC now owns 12,858 shares of the company’s stock valued at $366,000 after buying an additional 418 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of Akorn by 5.0% in the second quarter. Legal & General Group Plc now owns 10,194 shares of the company’s stock valued at $290,000 after buying an additional 489 shares during the last quarter. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Akorn Company Profile

Akorn Inc, together with its subsidiaries, is a specialty 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.

5 Day Chart for NASDAQ:AKRX

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