Traders sold shares of Akorn Inc. (NASDAQ:AKRX) on strength during trading hours on Friday. $3.90 million flowed into the stock on the tick-up and $13.69 million flowed out of the stock on the tick-down, for a money net flow of $9.79 million out of the stock. Of all stocks tracked, Akorn had the 0th highest net out-flow for the day. Akorn traded up $0.15 for the day and closed at $31.18

Several equities research analysts recently weighed in on AKRX shares. Raymond James Financial Inc. decreased their target price on Akorn from $53.00 to $30.00 in a research note on Monday, March 21st. S&P Equity Research decreased their target price on Akorn from $25.98 to $21.97 in a research note on Tuesday, March 22nd. Jefferies Group restated a “buy” rating and set a $35.00 target price (down previously from $43.00) on shares of Akorn in a research note on Wednesday, March 23rd. Guggenheim restated a “buy” rating and set a $40.00 target price on shares of Akorn in a research note on Tuesday, March 22nd. Finally, Nomura Holdings Inc. decreased their target price on Akorn from $46.00 to $42.00 and set a “buy” rating for the company in a research note on Monday, March 21st. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $34.25.

The stock’s 50-day moving average price is $29.85 and its 200-day moving average price is $27.49. The company has a market cap of $3.72 billion and a price-to-earnings ratio of 24.84.

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

In related news, Director Ronald M. Johnson sold 7,542 shares of the stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $31.49, for a total value of $237,497.58. Following the completion of the transaction, the director now owns 111,807 shares of the company’s stock, valued at $3,520,802.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alan D. Weinstein sold 50,000 shares of the stock in a transaction dated Thursday, June 2nd. The shares were 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 approximately $2,593,697.01. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors have modified their holdings of the stock. Gamco Investors INC. ET AL increased 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 worth $1,160,000 after buying an additional 1,600 shares in the last quarter. Mutual of America Capital Management LLC increased 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. I.G. Investment Management LTD. increased 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 worth $3,194,000 after buying an additional 4,590 shares in the last quarter. State Board of Administration of Florida Retirement System increased 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 worth $3,261,000 after buying an additional 948 shares in the last quarter. Finally, Comerica Bank increased 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 worth $3,311,000 after buying an additional 2,818 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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