Shares of Akorn Inc. (NASDAQ:AKRX) saw unusually-strong trading volume on Thursday . Approximately 2,160,236 shares were traded during 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 have recently issued reports on AKRX shares. Raymond James Financial Inc. lowered their price objective on Akorn from $53.00 to $30.00 in a research report on Monday, March 21st. Leerink Swann reiterated a “market perform” rating on shares of Akorn in a research report on Saturday, April 16th. Deutsche Bank AG lowered their price target on Akorn from $40.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, March 18th. Craig Hallum reiterated a “buy” rating on shares of Akorn in a research report on Tuesday, March 22nd. Finally, William Blair reiterated an “outperform” rating and issued a $36.00 price target (down from $58.00) on shares of Akorn in a research report on Wednesday, March 23rd. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $34.25.

The firm’s 50-day moving average is $29.78 and its 200 day moving average is $27.63. The company has a market capitalization of $3.66 billion and a PE ratio of 24.43.

Akorn (NASDAQ:AKRX) last released its earnings results on Monday, May 16th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.11. The business earned $268 million during the quarter. The firm’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.16 earnings per share. Equities analysts anticipate that Akorn Inc. will post $2.16 earnings per share for the current fiscal year.

In other news, Director Alan D. Weinstein sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $30.93, for a total value of $1,546,500.00. Following the completion of the transaction, the director now directly owns 83,857 shares of the company’s stock, valued at $2,593,697.01. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ronald M. Johnson sold 7,542 shares of the stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $31.49, for a total value of $237,497.58. Following the transaction, the director now directly owns 111,807 shares of the company’s stock, valued at $3,520,802.43. The disclosure for this sale can be found here.

A number of institutional investors have recently made changes to their positions in the stock. Gamco Investors INC. ET AL raised its position in shares of Akorn by 5.4% in the fourth quarter. Gamco Investors INC. ET AL now owns 31,100 shares of the company’s stock valued at $1,160,000 after buying an additional 1,600 shares during the period. 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 valued at $2,044,000 after buying an additional 1,763 shares during the period. I.G. Investment Management LTD. raised its position in shares of Akorn by 5.7% in the fourth quarter. I.G. Investment Management LTD. now owns 85,620 shares of the company’s stock valued at $3,194,000 after buying an additional 4,590 shares during the period. State Board of Administration of Florida Retirement System raised its position in shares of Akorn by 1.1% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 87,410 shares of the company’s stock valued at $3,261,000 after buying an additional 948 shares during the period. Finally, Comerica Bank raised its position in shares of Akorn by 3.3% in the fourth quarter. Comerica Bank now owns 88,358 shares of the company’s stock valued at $3,311,000 after buying an additional 2,818 shares during the period.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.