Royal Bank of Canada set a $9.00 price objective on Akorn (NASDAQ:AKRX) in a research report released on Wednesday morning. The firm currently has a hold rating on the stock.

Several other equities research analysts have also recently commented on AKRX. Piper Jaffray Companies set a $5.00 price target on shares of Akorn and gave the stock a hold rating in a research report on Tuesday, October 2nd. BidaskClub upgraded shares of Akorn from a buy rating to a strong-buy rating in a research report on Thursday, September 6th. ValuEngine upgraded shares of Akorn from a sell rating to a hold rating in a research report on Tuesday, October 2nd. Craig Hallum upgraded shares of Akorn from a hold rating to a buy rating in a research report on Thursday, October 4th. Finally, Zacks Investment Research upgraded shares of Akorn from a hold rating to a buy rating and set a $16.00 price target on the stock in a research report on Monday, August 27th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Buy and an average target price of $14.67.

Shares of NASDAQ AKRX traded down $0.02 during midday trading on Wednesday, reaching $6.85. 2,929,630 shares of the company traded hands, compared to its average volume of 4,226,315. Akorn has a 52 week low of $5.25 and a 52 week high of $33.63. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.87 and a current ratio of 3.47.

A number of institutional investors have recently modified their holdings of AKRX. BlackRock Inc. raised its position in Akorn by 30.6% in the second quarter. BlackRock Inc. now owns 10,731,745 shares of the company’s stock worth $178,040,000 after acquiring an additional 2,515,409 shares in the last quarter. Paulson & CO. Inc. purchased a new position in Akorn in the 2nd quarter worth about $29,198,000. Marshall Wace LLP increased its stake in Akorn by 250.5% in the 2nd quarter. Marshall Wace LLP now owns 2,069,385 shares of the company’s stock worth $34,331,000 after purchasing an additional 1,478,959 shares in the last quarter. PointState Capital LP increased its stake in Akorn by 933.8% in the 2nd quarter. PointState Capital LP now owns 1,255,027 shares of the company’s stock worth $20,821,000 after purchasing an additional 1,133,627 shares in the last quarter. Finally, Arrowgrass Capital Partners US LP purchased a new position in Akorn in the 2nd quarter worth about $17,435,000. Hedge funds and other institutional investors own 69.69% of the company’s stock.

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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