Akorn, Inc. (NASDAQ:AKRX) has been assigned a consensus rating of “Hold” from the ten research firms that are covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $6.60.
Several equities analysts have recently issued reports on the stock. SunTrust Banks assumed coverage on shares of Akorn in a report on Tuesday, March 19th. They issued a “hold” rating and a $4.00 price target for the company. BidaskClub lowered shares of Akorn from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 6th. Piper Jaffray Companies set a $8.00 target price on shares of Akorn and gave the stock a “buy” rating in a research note on Friday, March 1st. Royal Bank of Canada set a $4.00 target price on shares of Akorn and gave the stock a “hold” rating in a research note on Friday, March 1st. Finally, Zacks Investment Research raised shares of Akorn from a “sell” rating to a “hold” rating in a research note on Monday, December 31st.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. MML Investors Services LLC acquired a new position in shares of Akorn during the 4th quarter worth about $34,000. Oregon Public Employees Retirement Fund boosted its stake in shares of Akorn by 228.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 121,338 shares of the company’s stock worth $36,000 after buying an additional 84,363 shares during the last quarter. First Citizens Bank & Trust Co. acquired a new position in shares of Akorn during the 4th quarter worth about $38,000. Piedmont Investment Advisors Inc. acquired a new position in shares of Akorn during the 4th quarter worth about $76,000. Finally, Virtu Financial LLC acquired a new position in shares of Akorn during the 4th quarter worth about $87,000. 69.36% of the stock is owned by hedge funds and other institutional investors.
Akorn (NASDAQ:AKRX) last announced its quarterly earnings results on Thursday, February 28th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.28). Akorn had a negative net margin of 57.91% and a negative return on equity of 13.34%. The firm had revenue of $153.39 million during the quarter, compared to analyst estimates of $164.75 million. During the same period last year, the firm earned $0.14 EPS. Akorn’s quarterly revenue was down 17.6% on a year-over-year basis. Equities analysts expect that Akorn will post -0.28 EPS for the current fiscal year.
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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