Akorn Inc. (NASDAQ:AKRX)’s share price traded up 3.9% during mid-day trading on Wednesday . The stock traded as high as $31.66 and last traded at $31.52, with a volume of 495,094 shares trading hands. The stock had previously closed at $30.35.

A number of brokerages have recently commented on AKRX. Jefferies Group reaffirmed a “buy” rating and issued a $35.00 target price on shares of Akorn in a report on Wednesday, May 11th. Zacks Investment Research cut shares of Akorn from a “buy” rating to a “hold” rating in a report on Tuesday, May 24th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $37.00 target price on shares of Akorn in a report on Tuesday, May 17th. Guggenheim reaffirmed a “buy” rating and issued a $40.00 target price on shares of Akorn in a report on Tuesday, May 17th. Finally, RBC Capital Markets reaffirmed an “outperform” rating and issued a $37.00 target price on shares of Akorn in a report on Tuesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $34.46.

The stock has a 50-day moving average of $29.90 and a 200-day moving average of $27.32. The stock has a market capitalization of $3.80 billion and a PE ratio of 25.34.

Akorn (NASDAQ:AKRX) last released its earnings results on Monday, May 16th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.11. The business earned $268 million during the quarter. During the same quarter in the prior year, the firm earned $0.16 EPS. Akorn’s quarterly revenue was up 18.0% on a year-over-year basis. Equities analysts predict that Akorn Inc. will post $2.16 EPS for the current fiscal year.

In related news, SVP Joseph Bonaccorsi sold 6,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 14th. The shares were sold at an average price of $29.84, for a total value of $193,960.00. Following the sale, the senior vice president now directly owns 449,112 shares in the company, valued at approximately $13,401,502.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kenneth Abramowitz sold 14,675 shares of the business’s stock in a transaction that occurred on Friday, June 10th. The stock was sold at an average price of $30.16, for a total transaction of $442,598.00. Following the completion of the sale, the director now owns 33,185 shares in the company, valued at $1,000,859.60. The disclosure for this sale can be found here.

Other large investors have recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System raised its stake in 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. Gamco Investors INC. ET AL raised its stake in 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 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. Rhumbline Advisers raised its stake in Akorn by 1.4% in the fourth quarter. Rhumbline Advisers now owns 174,542 shares of the company’s stock worth $6,512,000 after buying an additional 2,330 shares in the last quarter. Finally, Comerica Bank raised its stake in 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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