Piper Jaffray Companies set a $34.00 target price on Akorn, Inc. (NASDAQ:AKRX) in a research report sent to investors on Tuesday. The firm currently has a hold rating on the stock.

A number of other equities analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Akorn from a hold rating to a strong sell rating in a research note on Friday, August 25th. Royal Bank Of Canada reaffirmed a sector perform rating and issued a $34.00 price objective on shares of Akorn in a research note on Sunday, August 20th. BidaskClub cut shares of Akorn from a sell rating to a strong sell rating in a research note on Saturday, August 19th. TheStreet cut shares of Akorn from a b- rating to a c rating in a research note on Tuesday, August 1st. Finally, Jefferies Group LLC reaffirmed a hold rating and issued a $34.00 price objective on shares of Akorn in a research note on Wednesday, July 19th. Five research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. Akorn currently has a consensus rating of Hold and a consensus price target of $28.56.

Akorn (NASDAQ AKRX) opened at 32.94 on Tuesday. Akorn has a 12-month low of $17.61 and a 12-month high of $34.00. The firm has a 50 day moving average price of $33.20 and a 200 day moving average price of $30.43. The company has a market cap of $4.11 billion, a PE ratio of 33.27 and a beta of 1.38.

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In other Akorn news, COO Bruce Kutinsky sold 40,000 shares of Akorn stock in a transaction on Thursday, August 3rd. The shares were 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 directly owns 317,480 shares in the company, valued at approximately $10,622,880.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brian Tambi sold 5,165 shares of Akorn stock in a transaction on Friday, August 4th. The shares were sold at an average price of $33.37, for a total transaction of $172,356.05. The disclosure for this sale can be found here. Company insiders own 28.20% of the company’s stock.

Large investors have recently modified their holdings of the stock. NEXT Financial Group Inc raised its stake in shares of Akorn by 990.9% in the first quarter. NEXT Financial Group Inc now owns 3,000 shares of the company’s stock valued at $100,000 after buying an additional 2,725 shares during the last quarter. Meadow Creek Investment Management LLC raised its stake in shares of Akorn by 8.3% in the first quarter. Meadow Creek Investment Management LLC now owns 4,368 shares of the company’s stock valued at $105,000 after buying an additional 336 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Akorn by 22.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,228 shares of the company’s stock valued at $108,000 after buying an additional 599 shares during the last quarter. Glen Harbor Capital Management LLC raised 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 valued at $128,000 after buying an additional 408 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Akorn by 17.6% in the second quarter. Victory Capital Management Inc. now owns 4,177 shares of the company’s stock valued at $140,000 after buying an additional 626 shares during the last quarter. Hedge funds and other institutional investors own 69.71% of the company’s stock.

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.

Analyst Recommendations for Akorn (NASDAQ:AKRX)

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