Akorn (AKRX) Stock Price Down 5.4%

Shares of Akorn, Inc. (NASDAQ:AKRX) traded down 5.4% during trading on Friday . The stock traded as low as $4.03 and last traded at $4.04. 1,223,564 shares changed hands during trading, a decline of 55% from the average session volume of 2,697,858 shares. The stock had previously closed at $4.27.

Several analysts recently commented on the stock. Piper Jaffray Companies set a $8.00 target price on shares of Akorn and gave the company a “buy” rating in a research note on Friday, March 1st. Zacks Investment Research raised shares of Akorn from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. BidaskClub raised shares of Akorn from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 20th. Royal Bank of Canada set a $4.00 target price on shares of Akorn and gave the company a “hold” rating in a research note on Friday, March 1st. Finally, SunTrust Banks assumed coverage on shares of Akorn in a research note on Tuesday, March 19th. They set a “hold” rating and a $4.00 target price for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. Akorn presently has a consensus rating of “Hold” and a consensus price target of $8.33.

The company has a debt-to-equity ratio of 2.31, a quick ratio of 2.30 and a current ratio of 3.26. The stock has a market cap of $552.48 million, a P/E ratio of -11.22 and a beta of 2.60.

Akorn (NASDAQ:AKRX) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.10) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.18) by $0.08. The business had revenue of $165.90 million during the quarter, compared to the consensus estimate of $153.01 million. Akorn had a negative net margin of 67.38% and a negative return on equity of 13.92%. The business’s revenue for the quarter was down 9.9% on a year-over-year basis. Sell-side analysts forecast that Akorn, Inc. will post -0.37 earnings per share for the current year.

In other news, Director Steven J. Meyer purchased 15,000 shares of Akorn stock in a transaction that occurred on Monday, May 20th. The stock was acquired at an average price of $4.10 per share, for a total transaction of $61,500.00. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Terry Allison Rappuhn purchased 10,000 shares of Akorn stock in a transaction that occurred on Monday, May 13th. The stock was purchased at an average price of $4.03 per share, with a total value of $40,300.00. The disclosure for this purchase can be found here. 3.90% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of AKRX. MML Investors Services LLC purchased a new stake in shares of Akorn in the 4th quarter valued at approximately $34,000. Oregon Public Employees Retirement Fund increased its stake in Akorn by 228.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 121,338 shares of the company’s stock valued at $36,000 after buying an additional 84,363 shares during the period. Jane Street Group LLC acquired a new position in Akorn in the 1st quarter valued at approximately $44,000. Piedmont Investment Advisors Inc. acquired a new position in Akorn in the 4th quarter valued at approximately $76,000. Finally, Virtu Financial LLC acquired a new position in Akorn in the 4th quarter valued at approximately $87,000. Institutional investors and hedge funds own 68.83% of the company’s stock.

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Akorn Company Profile (NASDAQ:AKRX)

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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