Akorn Inc. (NASDAQ:AKRX) was down 4.2% during mid-day trading on Thursday . The company traded as low as $31.50 and last traded at $31.63, with a volume of 2,200,203 shares changing hands. The stock had previously closed at $33.01.

A number of equities research analysts have recently issued reports on AKRX shares. Zacks Investment Research downgraded shares of Akorn from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 19th. Leerink Swann restated a “market perform” rating on shares of Akorn in a research report on Saturday, April 16th. Royal Bank Of Canada restated a “buy” rating on shares of Akorn in a research report on Monday, July 18th. TheStreet upgraded Akorn from a “hold” rating to a “buy” rating in a research report on Wednesday, May 11th. Finally, Raymond James Financial Inc. downgraded Akorn from an “outperform” rating to a “market perform” rating in a research report on Tuesday. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $34.43.

The firm has a 50 day moving average price of $30.66 and a 200 day moving average price of $27.30. The firm has a market capitalization of $3.73 billion and a PE ratio of 24.89.

Akorn (NASDAQ:AKRX) last issued its earnings results on Thursday, August 4th. The company reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.03. The business had revenue of $280.70 million for the quarter, compared to the consensus estimate of $272.99 million. The business’s revenue for the quarter was up 27.1% compared to the same quarter last year. Equities analysts anticipate that Akorn Inc. will post $2.15 earnings per share for the current year.

In related news, Director Kenneth Abramowitz sold 10,900 shares of the company’s stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $31.37, for a total value of $341,933.00. Following the completion of the sale, the director now owns 16,985 shares in the company, valued at approximately $532,819.45. The sale 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 that occurred on Friday, June 3rd. The shares were 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 of the company’s stock, valued at approximately $14,705,020.26. The disclosure for this sale can be found here.

Other large investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA increased its stake 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 valued at $9,828,000 after buying an additional 56,708 shares during the period. I.G. Investment Management LTD. increased its stake 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 valued at $3,194,000 after buying an additional 4,590 shares during the period. Schroder Investment Management Group increased its stake 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 valued at $18,248,000 after buying an additional 157,200 shares during the period. Finally, Mutual of America Capital Management LLC increased its stake 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 period.

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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