Traders sold shares of Akorn Inc. (NASDAQ:AKRX) on strength during trading 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 equities 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

AKRX has been the topic of several research analyst reports. Raymond James Financial Inc. dropped their price target on Akorn from $53.00 to $30.00 in a research note on Monday, March 21st. Jefferies Group reiterated a “buy” rating and set a $35.00 price target (down previously from $43.00) on shares of Akorn in a research note on Wednesday, March 23rd. Craig Hallum reiterated a “buy” rating on shares of Akorn in a research note on Tuesday, March 22nd. Susquehanna dropped their price target on Akorn from $32.00 to $30.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 23rd. Finally, Leerink Swann reiterated a “market perform” rating on shares of Akorn in a research note on Saturday, April 16th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Akorn has a consensus rating of “Buy” and an average price target of $34.25.

The firm has a 50-day moving average price of $29.85 and a 200-day moving average price of $27.49. The firm has a market capitalization of $3.72 billion and a P/E ratio of 24.84.

Akorn (NASDAQ:AKRX) last posted its quarterly earnings results 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. The business earned $268 million during the quarter. Akorn’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 EPS. Equities analysts forecast that Akorn Inc. will post $2.16 earnings per share for the current fiscal year.

In other Akorn news, Director Ronald M. Johnson sold 7,542 shares of the firm’s stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $31.49, for a total transaction of $237,497.58. Following 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 filing with the SEC, which is accessible through the SEC website. Also, SVP Joseph Bonaccorsi sold 90,250 shares of the firm’s stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $31.23, for a total value of $2,818,507.50. Following the transaction, the senior vice president now directly owns 470,862 shares in the company, valued at approximately $14,705,020.26. The disclosure for this sale can be found here.

Several institutional investors have recently modified their holdings of 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 valued at $34,390,000 after buying an additional 271,655 shares during 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 valued at $2,044,000 after buying an additional 1,763 shares during 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 valued at $8,246,000 after buying an additional 17,500 shares during the last quarter. 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 valued at $3,840,000 after buying an additional 1,343 shares during the last quarter. Finally, Rhumbline Advisers raised its position in shares of Akorn by 1.4% in the fourth quarter. Rhumbline Advisers now owns 174,542 shares of the company’s stock valued at $6,512,000 after buying an additional 2,330 shares during 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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