Shares of Akorn Inc. (NASDAQ:AKRX) gapped up before the market opened on Thursday . The stock had previously closed at $31.68, but opened at $31.80. Akorn shares last traded at $32.32, with a volume of 386,927 shares.

AKRX has been the subject of a number of research reports. Zacks Investment Research cut shares of Akorn from a “hold” rating to a “strong sell” rating in a research report on Tuesday. Leerink Swann reissued a “market perform” rating on shares of Akorn in a research report on Saturday, April 16th. Guggenheim reissued a “buy” rating and issued a $40.00 price objective on shares of Akorn in a research report on Tuesday, May 17th. Jefferies Group reissued a “buy” rating and issued a $35.00 price objective on shares of Akorn in a research report on Wednesday, May 11th. Finally, RBC Capital Markets reissued an “outperform” rating and issued a $37.00 price objective on shares of Akorn in a research report on Tuesday. One investment 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’s stock. Akorn currently has a consensus rating of “Buy” and an average price target of $34.46.

The firm has a market cap of $3.84 billion and a PE ratio of 25.64. The firm has a 50 day moving average of $29.99 and a 200-day moving average of $27.39.

Akorn (NASDAQ:AKRX) last announced its earnings results on Monday, May 16th. The company reported $0.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.11. During the same period in the previous year, the company posted $0.16 earnings per share. The company earned $268 million during the quarter. The company’s revenue was up 18.0% on a year-over-year basis. Equities research analysts expect that Akorn Inc. will post $2.16 EPS for the current year.

In other Akorn news, COO Bruce Kutinsky sold 142,000 shares of the business’s stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $31.12, for a total value of $4,419,040.00. Following the completion of the transaction, the chief operating officer now directly owns 58,695 shares of the company’s stock, valued at $1,826,588.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Joseph Bonaccorsi sold 6,500 shares of the business’s stock in a transaction dated Tuesday, June 14th. The stock was sold at an average price of $29.84, for a total transaction of $193,960.00. Following the completion of the transaction, the senior vice president now directly owns 449,112 shares of the company’s stock, valued at $13,401,502.08. The disclosure for this sale can be found here.

Other institutional investors recently made changes to their positions in the company. BNP Paribas Arbitrage SA increased its position in shares of 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. 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. Schroder Investment Management Group increased its position in shares of 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 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. Finally, Gabelli Funds LLC increased 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 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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