Health Care

Piper Jaffray Companies Reaffirms Hold Rating for Akorn, Inc. (NASDAQ:AKRX)

Akorn, Inc. (AKRX) is a part of Healthcare sector and belongs to Drugs - Generic industry. (NASDAQ:EFII) inclined 8.13% in morning trade Tuesday. The stock rose 0.03% or $0.01 reaching $33.37.

Several analysts have recently weighed in on AKRX shares. For the next fiscal year, analysts forecast that the company will report earnings of $1.81 per share, with EPS estimates ranging from $1.79 to $1.83. TheStreet lowered shares of Akorn from a "b-" rating to a "c" rating in a report on Tuesday, August 1st. Piper Jaffray Companies cut shares of Akorn from an "overweight" rating to a "neutral" rating and increased their price objective for the stock from $29.00 to $34.00 in a research note on Tuesday, April 25th. Jefferies Group LLC reaffirmed a "hold" rating and set a $34.00 price objective on shares of Akorn in a research report on Wednesday, July 19th. BidaskClub raised Akorn from a hold rating to a buy rating in a report on Saturday, June 24th. Four research experts recommended the company shares with a sell recommendation, nine have published a hold recommendation and 1 has released a buy recommendation to the firms shares. Akorn presently has a average recommendation of "Hold" and an consensus price target of $28.56. Tower Research Capital LLC (trc) now owns 71 shares worth $2,000. If you are accessing this report on another domain, it was illegally stolen and reposted in violation of United States and global copyright & trademark law.

Akorn, Inc. on 6/29/2017 reported its EPS as $0.56 with the analysts projecting the EPS of the stock as $0.54. Following the completion of the sale, the chief operating officer now directly owns 317,480 shares in the company, valued at approximately $10,622,880.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Bruce Kutinsky sold 40,000 shares of the company's stock in a transaction on Thursday, August 3rd. Sell-side analyst recommendations point to a short term price target of $34 on the company shares. The disclosure for this sale can be found here. Given the stock's recent action, it seemed like a good time to take a closer look at the company's recent data.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock.

As of quarter end Tower Research Capital LLC (trc) had disposed of 904 shares trimming its stake by 92.7%. The St Germain D J Co Inc holds 68,888 shares with $2.50M value, down from 130,714 last quarter. Dimensional Fund Advisors LP increased its stake in shares of Akorn by 21.4% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 19,534 shares of the company's stock worth $655,000 after buying an additional 158 shares during the period. Pacer Advisors Inc. increased its stake in Akorn by 1.4% in the second quarter. Retirement Systems of Alabama now owns 163,533 shares of the company's stock worth $3,938,000 after buying an additional 50,323 shares during the period. Glen Harbor Capital Management LLC boosted its stake in Akorn by 8.3% in the first quarter. Principal Financial Group Inc. now owns 365,351 shares of the company's stock valued at $12,254,000 after buying an additional 6,570 shares in the last quarter. Bank of Montreal Can increased its position in Akorn by 116.9% in the first quarter. Advantus Capital Management Inc now owns 11,151 shares of the company's stock worth $269,000 after buying an additional 256 shares during the last quarter.

Akorn, Inc. (AKRX) opened the session with a $33.4 price tag, later ranging from $33.31 to $33.5, the range at which the stock has traded at throughout the day. Proficio Capital Partners LLC now holds 40 shares with a value of $1,000. Looking at the stock's movement on the chart, Akorn, Inc. recorded a 52-week high of $34.00. The company has a market cap of $4.16 billion, a price-to-earnings ratio of 33.66 and a beta of 1.36. Shares are trading at $33.32 barely below $33.55, the 50 day moving average and which is quite a bit above the 200 day moving average of $28.93.

Akorn, a niche pharmaceutical company that develops, manufactures and markets generic and prescription pharmaceuticals, as well as, animal and consumer health products.

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