Akorn Inc. (NASDAQ:AKRX) saw an uptick in trading volume on Thursday . 2,160,236 shares traded hands during mid-day trading, an increase of 60% from the previous session’s volume of 1,348,967 shares.The stock last traded at $30.02 and had previously closed at $29.65.

A number of analysts recently commented on AKRX shares. Guggenheim reissued a “buy” rating and set a $40.00 price objective on shares of Akorn in a report on Tuesday, May 17th. Leerink Swann reissued a “market perform” rating and set a $28.00 price objective (up previously from $24.00) on shares of Akorn in a report on Wednesday, March 23rd. Zacks Investment Research raised shares of Akorn from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a report on Wednesday, May 18th. Jefferies Group reissued a “buy” rating and set a $35.00 price objective on shares of Akorn in a report on Wednesday, May 11th. Finally, Piper Jaffray Cos. reissued a “hold” rating on shares of Akorn in a report on Wednesday, March 23rd. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $34.25.

The firm’s 50-day moving average price is $29.75 and its 200-day moving average price is $27.67. The stock has a market capitalization of $3.59 billion and a price-to-earnings ratio of 23.92.

Akorn (NASDAQ:AKRX) last released its quarterly earnings data on Monday, May 16th. The company reported $0.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.11. The firm earned $268 million during the quarter. During the same quarter in the previous year, the business posted $0.16 earnings per share. The firm’s revenue for the quarter was up 18.0% on a year-over-year basis. On average, equities research analysts forecast that Akorn Inc. will post $2.16 EPS for the current year.

In related news, COO Bruce Kutinsky sold 142,000 shares of the stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $31.12, for a total value of $4,419,040.00. Following the completion of the transaction, the chief operating officer now owns 58,695 shares in the company, valued at approximately $1,826,588.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Joseph Bonaccorsi sold 90,250 shares of the stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $31.23, for a total transaction of $2,818,507.50. Following the completion of the transaction, the senior vice president now owns 470,862 shares of the company’s stock, valued at approximately $14,705,020.26. The disclosure for this sale can be found here.

Other institutional investors recently made changes to their positions in the company. OppenheimerFunds Inc. raised its position in shares of Akorn by 41.8% in the fourth quarter. OppenheimerFunds Inc. now owns 921,715 shares of the company’s stock worth $34,390,000 after buying an additional 271,655 shares in the last quarter. Oxford Asset Management raised its position in shares of Akorn by 689.9% in the fourth quarter. Oxford Asset Management now owns 118,352 shares of the company’s stock worth $4,405,000 after buying an additional 103,368 shares in the last quarter. Mutual of America Capital Management LLC raised its position in shares of Akorn by 3.3% in the fourth quarter. Mutual of America Capital Management LLC now owns 54,788 shares of the company’s stock worth $2,044,000 after buying an additional 1,763 shares in the last quarter. Gabelli Funds LLC raised its position in shares of Akorn by 8.6% in the fourth quarter. Gabelli Funds LLC now owns 221,000 shares of the company’s stock worth $8,246,000 after buying an additional 17,500 shares in the last quarter. Finally, Retirement Systems of Alabama raised its position in shares of Akorn by 1.3% in the fourth quarter. Retirement Systems of Alabama now owns 102,929 shares of the company’s stock worth $3,840,000 after buying an additional 1,343 shares in the last quarter.

Akorn Inc (Akorn), together with its wholly owned subsidiaries, is a specialty pharmaceutical company that develops, manufactures and markets generic and branded prescription pharmaceuticals, as well as animal and over-the-counter (OTC) consumer health products. The Company specializes in sterile and non-sterile dosage forms, including ophthalmics, injectables, oral liquids, otics, topicals, inhalants and nasal sprays.

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