Akorn (AKRX) PT Set at $25.00 by Royal Bank of Canada

Akorn (NASDAQ:AKRX) has been given a $25.00 price target by stock analysts at Royal Bank of Canada in a note issued to investors on Thursday. The brokerage currently has a “hold” rating on the stock. Royal Bank of Canada’s target price indicates a potential upside of 33.62% from the company’s previous close.

A number of other analysts have also recently weighed in on AKRX. BidaskClub cut shares of Akorn from a “sell” rating to a “strong sell” rating in a report on Thursday, December 14th. Zacks Investment Research cut shares of Akorn from a “hold” rating to a “sell” rating in a report on Wednesday, January 24th. Deutsche Bank set a $34.00 price target on shares of Akorn and gave the company a “hold” rating in a report on Thursday, February 22nd. William Blair restated a “hold” rating on shares of Akorn in a report on Thursday, March 1st. Finally, Piper Jaffray set a $34.00 price target on shares of Akorn and gave the company a “hold” rating in a report on Wednesday, March 7th. Two investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Akorn presently has an average rating of “Hold” and a consensus price target of $31.75.

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Shares of Akorn stock opened at $18.71 on Thursday. The company has a current ratio of 4.27, a quick ratio of 3.19 and a debt-to-equity ratio of 0.98. Akorn has a 1 year low of $16.79 and a 1 year high of $34.00. The stock has a market cap of $2,343.58, a price-to-earnings ratio of 11.62, a price-to-earnings-growth ratio of 0.86 and a beta of 1.78.

In other news, major shareholder John N. Kapoor sold 13,629 shares of the firm’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $32.67, for a total value of $445,259.43. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 28.20% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in AKRX. BlackRock Inc. raised its position in shares of Akorn by 2.8% in the 4th quarter. BlackRock Inc. now owns 7,958,348 shares of the company’s stock valued at $256,496,000 after purchasing an additional 215,686 shares during the last quarter. Twin Securities Inc. raised its position in shares of Akorn by 190.8% in the 4th quarter. Twin Securities Inc. now owns 3,767,422 shares of the company’s stock valued at $121,424,000 after purchasing an additional 2,471,711 shares during the last quarter. Gardner Lewis Asset Management L P raised its position in shares of Akorn by 65.0% in the 4th quarter. Gardner Lewis Asset Management L P now owns 3,670,371 shares of the company’s stock valued at $118,296,000 after purchasing an additional 1,445,923 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Akorn by 5.2% in the 4th quarter. Renaissance Technologies LLC now owns 2,832,600 shares of the company’s stock valued at $91,295,000 after purchasing an additional 139,100 shares during the last quarter. Finally, Deutsche Bank AG raised its position in shares of Akorn by 8.7% in the 4th quarter. Deutsche Bank AG now owns 2,037,471 shares of the company’s stock valued at $65,666,000 after purchasing an additional 163,367 shares during the last quarter. Institutional investors and hedge funds own 78.24% of the company’s stock.

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About Akorn

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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