The stock of Akorn, Inc. (NASDAQ:AKRX) is a huge mover today! The stock decreased 2.91% or $0.59 during the last trading session, hitting $19.68. About 3.83 million shares traded hands or 206.40% up from the average. Akorn, Inc. (NASDAQ:AKRX) has declined 17.40% since April 4, 2016 and is downtrending. It has underperformed by 18.49% the S&P500.
The move comes after 5 months negative chart setup for the $2.56B company. It was reported on Nov, 4 by Barchart.com. We have $17.91 PT which if reached, will make NASDAQ:AKRX worth $230.40M less.
Akorn, Inc. (NASDAQ:AKRX) Ratings Coverage
Out of 12 analysts covering Akorn Inc (NASDAQ:AKRX), 6 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 50% are positive. Akorn Inc has been the topic of 19 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock has “Buy” rating given by Deutsche Bank on Friday, March 18. The firm has “Neutral” rating given on Tuesday, September 29 by Nomura. The firm has “Neutral” rating by Susquehanna given on Tuesday, July 21. The stock of Akorn, Inc. (NASDAQ:AKRX) has “Neutral” rating given on Wednesday, March 23 by Susquehanna. The rating was downgraded by Raymond James to “Market Perform” on Tuesday, August 2. JP Morgan maintained Akorn, Inc. (NASDAQ:AKRX) rating on Monday, March 14. JP Morgan has “Overweight” rating and $45 price target. The firm earned “Market Perform” rating on Wednesday, September 9 by JMP Securities. On Wednesday, March 23 the stock rating was maintained by William Blair with “Outperform”. The rating was maintained by WallachBeth Capital with “Buy” on Friday, August 5. Leerink Swann maintained it with “Market Perform” rating and $24 target price in Wednesday, March 16 report.
According to Zacks Investment Research, “Akorn, Inc. manufactures and markets diagnostic and therapeutic pharmaceuticals in specialty areas such as ophthalmology, rheumatology, anesthesia and antidotes, among others. They also market ophthalmic surgical instruments and related products. Customers include physicians, optometrists, wholesalers, group purchasing organizations and other pharmaceutical companies. They also provide contract manufacturing services.”
More recent Akorn, Inc. (NASDAQ:AKRX) news were published by: Fool.com which released: “The Ridiculous Reason Akorn, Inc. Shares Dropped as Much as 17.4% Today” on November 03, 2016. Also Forbes.com published the news titled: “Oversold Conditions For Akorn (AKRX)” on November 03, 2016. Businesswire.com‘s news article titled: “Robbins Arroyo LLP: Akorn, Inc. (AKRX) Misled Shareholders According to a …” with publication date: October 28, 2016 was also an interesting one.
AKRX Company Profile
Akorn Inc. (Akorn), incorporated on January 20, 1971, together with its subsidiaries, is a specialty pharmaceutical firm that develops, makes and markets generic and branded prescription pharmaceuticals, as well as private-label over-the-counter (OTC) consumer health products and animal health pharmaceuticals. The Firm operates through two divisions: Prescription Pharmaceuticals and the Consumer Health. The Firm is engaged in the development, manufacturing and marketing of generic pharmaceutical products in alternative dosage forms. It is focused on sterile and non-sterile dosage forms including, ophthalmics, injectables, oral liquids, otics, topicals, inhalants and nasal sprays. The Company’s Akorn Consumer Health division (ACH) markets a portfolio of OTC brands and various formulations of private-label OTC pharmaceutical products. The Company’s OTC brand is TheraTears Therapy for Your Eyes, which is a family of therapeutic eye care products, including dry eye therapy lubricating eye drops, eyelid and eyelash cleansing foam and eye nutrition supplements.
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