The stock of Akorn, Inc. (NASDAQ:AKRX) is a huge mover today! The stock increased 4.28% or $0.92 on November 23, hitting $22.4. About 1.26M shares traded hands. Akorn, Inc. (NASDAQ:AKRX) has declined 20.93% since April 22, 2016 and is downtrending. It has underperformed by 26.34% the S&P500.
The move comes after 7 months positive chart setup for the $2.77B company. It was reported on Nov, 24 by Barchart.com. We have $23.74 PT which if reached, will make NASDAQ:AKRX worth $166.20 million more.
Akorn, Inc. (NASDAQ:AKRX) Ratings Coverage
Out of 14 analysts covering Akorn Inc (NASDAQ:AKRX), 6 rate it a “Buy”, 1 “Sell”, while 7 “Hold”. This means 43% are positive. Akorn Inc has been the topic of 21 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Nomura initiated the stock with “Neutral” rating in Tuesday, September 29 report. The stock of Akorn, Inc. (NASDAQ:AKRX) has “Market Perform” rating given on Wednesday, September 9 by JMP Securities. The firm has “Hold” rating by Deutsche Bank given on Friday, August 5. Jefferies maintained it with “Buy” rating and $35 target price in Wednesday, March 23 report. As per Tuesday, July 21, the company rating was initiated by Susquehanna. On Tuesday, August 2 the stock rating was downgraded by Raymond James to “Market Perform”. Deutsche Bank maintained Akorn, Inc. (NASDAQ:AKRX) rating on Friday, March 18. Deutsche Bank has “Buy” rating and $33 price target. As per Friday, February 12, the company rating was maintained by RBC Capital Markets. The stock has “Hold” rating given by Wallachbeth on Monday, November 7. The firm earned “Sector Perform” rating on Friday, November 4 by RBC Capital Markets.
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 news for Akorn, Inc. (NASDAQ:AKRX) were recently published by: Fool.com, which released: “The Ridiculous Reason Akorn, Inc. Shares Dropped as Much as 17.4% Today” on November 03, 2016. Forbes.com‘s article titled: “Oversold Conditions For Akorn (AKRX)” and published on November 03, 2016 is yet another important article.
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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