Akorn Inc. (NASDAQ:AKRX) shot up 2.6% during trading on Thursday . The stock traded as high as $31.13 and last traded at $31.03, with a volume of 1,049,066 shares traded. The stock had previously closed at $30.23.

Several brokerages have commented on AKRX. Zacks Investment Research lowered shares of Akorn from a “buy” rating to a “hold” rating in a research report on Tuesday, May 24th. Guggenheim restated a “buy” rating and set a $40.00 target price on shares of Akorn in a research report on Tuesday, May 17th. Leerink Swann restated a “hold” rating on shares of Akorn in a research report on Thursday, May 26th. Royal Bank Of Canada restated an “outperform” rating and set a $37.00 target price on shares of Akorn in a research report on Tuesday, May 17th. Finally, Jefferies Group restated a “buy” rating and set a $35.00 target price on shares of Akorn in a research report on Wednesday, May 11th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $34.25.

The company’s 50-day moving average price is $29.81 and its 200-day moving average price is $27.53. The company has a market capitalization of $3.71 billion and a P/E ratio of 24.73.

Akorn (NASDAQ:AKRX) last issued its quarterly earnings data on Monday, May 16th. The company reported $0.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.11. During the same quarter last year, the firm earned $0.16 earnings per share. The company earned $268 million during the quarter. The business’s quarterly revenue was up 18.0% compared to the same quarter last year. On average, analysts forecast that Akorn Inc. will post $2.16 earnings per share for the current year.

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

A number of hedge funds have added to or reduced their stakes in the stock. OppenheimerFunds Inc. raised its stake in 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 during the period. Schroder Investment Management Group raised its stake in Akorn by 47.4% in the fourth quarter. Schroder Investment Management Group now owns 489,100 shares of the company’s stock worth $18,248,000 after buying an additional 157,200 shares during the period. New York State Common Retirement Fund raised its stake in Akorn by 15.3% in the fourth quarter. New York State Common Retirement Fund now owns 481,176 shares of the company’s stock worth $17,953,000 after buying an additional 63,868 shares during the period. BNP Paribas Arbitrage SA raised its stake in Akorn by 27.4% in the fourth quarter. BNP Paribas Arbitrage SA now owns 263,419 shares of the company’s stock worth $9,828,000 after buying an additional 56,708 shares during the period. Finally, Gabelli Funds LLC raised its stake in 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 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.

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