Nomura May Have Just Upped Their Stakes in Akorn (NASDAQ:AKRX)

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Akorn (NASDAQ:AKRX) Stock Upgrade

Nomura gave Akorn (NASDAQ:AKRX) shares a new “Buy” rating in a recent research report disseminated on Wednesday, 2 December. The raise from the previous “Neutral” rating is certainly an interesting one.

From a total of 14 analysts covering Akorn Inc (NASDAQ:AKRX) stock, 11 rate it a ”Buy”, 0 a “Sell”, and 5 a ”Hold”. This means that 69% of the ratings are positive. The highest target price is $65 while the lowest target price is $32. The mean of all analyst targets is $49.71 with a 29.03% above today’s ($34.1) stock price. Akorn Inc was the topic of 5 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Nomura initiated shares on September 29 with “Neutral” rating. Susquehanna initiated AKRX stock in a recent report from July 21 with “Neutral” rating.

Approximately 702,736 shares of stock traded hands. Akorn, Inc. (NASDAQ:AKRX) has declined 20.59% since April 29, 2015 and is downtrending. It has underperformed by 20.39% the S&P500.

Akorn Inc. , together with its wholly owned subsidiaries, is a specialty pharmaceutical firm that develops, makes and markets generic and branded prescription pharmaceuticals, as well as animal and over-the-counter (OTC) consumer health products. The company has a market cap of $3.87 billion. The Firm specializes in sterile and non-sterile dosage forms, including ophthalmics, injectables, oral liquids, otics, topicals, inhalants and nasal sprays. It has 105.09 P/E ratio. The Firm operates in two divisions: Prescription Pharmaceuticals, which is engaged in the sale of branded and generic prescription pharmaceuticals, and Consumer Health, which is engaged in the sale of branded and private label consumer and animal health products.

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.” Get a free copy of the Zacks research report on Akorn, Inc. (AKRX).

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