Shares of Akorn Inc. (NASDAQ:AKRX) saw strong trading volume on Tuesday . 1,077,622 shares changed hands during trading, a decline of 20% from the previous session’s volume of 1,352,437 shares.The stock last traded at $30.66 and had previously closed at $31.36.

A number of research analysts recently weighed in on the company. Zacks Investment Research lowered Akorn from a “hold” rating to a “strong sell” rating in a research report on Tuesday. RBC Capital Markets reaffirmed an “outperform” rating and set a $37.00 price objective on shares of Akorn in a research report on Tuesday. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Akorn in a research report on Monday. Leerink Swann reaffirmed a “hold” rating on shares of Akorn in a research report on Thursday, May 26th. Finally, Guggenheim reaffirmed a “buy” rating and set a $40.00 price objective on shares of Akorn in a research report on Tuesday, May 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. Akorn has an average rating of “Buy” and an average price target of $34.46.

The stock has a market cap of $3.62 billion and a PE ratio of 24.18. The stock has a 50-day moving average price of $29.89 and a 200-day moving average price of $27.30.

Akorn (NASDAQ:AKRX) last posted its earnings results on Monday, May 16th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.11. During the same period in the prior year, the company posted $0.16 EPS. The company had revenue of $268 million for the quarter. The firm’s revenue for the quarter was up 18.0% compared to the same quarter last year. Analysts predict that Akorn Inc. will post $2.16 earnings per share for the current year.

In other Akorn news, SVP Joseph Bonaccorsi sold 90,250 shares of the company’s stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $31.23, for a total transaction of $2,818,507.50. Following the completion of the sale, the senior vice president now owns 470,862 shares in the company, valued at $14,705,020.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Kenneth Abramowitz sold 14,675 shares of the company’s stock in a transaction on Friday, June 10th. The stock was sold at an average price of $30.16, for a total value of $442,598.00. Following the sale, the director now owns 33,185 shares of the company’s stock, valued at approximately $1,000,859.60. The disclosure for this sale can be found here.

A number of hedge funds recently bought and sold shares of AKRX. 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 in the last quarter. I.G. Investment Management LTD. raised its stake in 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. 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 in the last quarter. Mutual of America Capital Management LLC raised its stake in 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. 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 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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