Akorn Inc. (NASDAQ:AKRX) shot up 2.9% during trading on Wednesday . The stock traded as high as $33.96 and last traded at $33.82, with a volume of 437,765 shares traded. The stock had previously closed at $32.86.

Several research firms have recently commented on AKRX. RBC Capital Markets reaffirmed an “outperform” rating and issued a $37.00 target price on shares of Akorn in a research report on Thursday. Jefferies Group reissued a “buy” rating and set a $35.00 price target on shares of Akorn in a research report on Wednesday, May 11th. Zacks Investment Research cut shares of Akorn from a “buy” rating to a “hold” rating in a research report on Tuesday, May 24th. Royal Bank Of Canada reissued an “outperform” rating and set a $37.00 price target on shares of Akorn in a research report on Tuesday, May 17th. Finally, Guggenheim reissued a “buy” rating and set a $40.00 price target on shares of Akorn in a research report on Tuesday, May 17th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Akorn has an average rating of “Buy” and a consensus price target of $34.46.

The stock’s 50 day moving average is $30.29 and its 200 day moving average is $27.22. The firm has a market capitalization of $4.04 billion and a P/E ratio of 26.96.

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

In related news, COO Bruce Kutinsky sold 142,000 shares of the company’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 sale, the chief operating officer now directly owns 58,695 shares of the company’s stock, valued at $1,826,588.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Joseph Bonaccorsi sold 90,250 shares of the company’s stock in a transaction dated 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 directly owns 470,862 shares of the company’s stock, valued at $14,705,020.26. The disclosure for this sale can be found here.

Several hedge funds have recently added to or reduced their stakes in AKRX. 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 valued at $3,311,000 after buying an additional 2,818 shares during the last quarter. New York State Common Retirement Fund raised its stake in Akorn by 15.3% in the fourth quarter. New York State Common Retirement Fund now owns 481,176 shares of the company’s stock valued at $17,953,000 after buying an additional 63,868 shares during 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 valued at $1,160,000 after buying an additional 1,600 shares during 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 valued at $2,044,000 after buying an additional 1,763 shares during the last quarter. Finally, 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 valued at $18,248,000 after buying an additional 157,200 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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