Akorn Inc. (NASDAQ:AKRX) shares traded down 5.5% on Wednesday . The stock traded as low as $27.73 and last traded at $27.84, with a volume of 1,489,193 shares. The stock had previously closed at $29.47.

Several research analysts have weighed in on the company. Royal Bank Of Canada restated an “outperform” rating and issued a $37.00 price target on shares of Akorn in a research note on Tuesday, May 17th. Leerink Swann restated a “hold” rating on shares of Akorn in a research note on Thursday, May 26th. Zacks Investment Research upgraded Akorn from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research note on Wednesday, May 18th. TheStreet upgraded Akorn from a “hold” rating to a “buy” rating in a research note on Wednesday, May 11th. Finally, Jefferies Group restated a “buy” rating and issued a $35.00 price target on shares of Akorn in a research note on Wednesday, May 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $34.80.

The firm has a market cap of $3.52 billion and a price-to-earnings ratio of 18.83. The firm has a 50 day moving average price of $31.17 and a 200-day moving average price of $27.68.

Akorn (NASDAQ:AKRX) last issued its earnings results on Thursday, August 4th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.03. The business had revenue of $280.70 million for the quarter, compared to analysts’ expectations of $272.99 million. Akorn’s revenue for the quarter was up 27.1% on a year-over-year basis. Equities research analysts expect that Akorn Inc. will post $2.17 EPS for the current year.

In other news, Director Ronald M. Johnson sold 7,542 shares of the stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $31.49, for a total transaction of $237,497.58. Following the completion of the transaction, the director now directly owns 111,807 shares of the company’s stock, valued at approximately $3,520,802.43. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Joseph Bonaccorsi sold 6,500 shares of the stock in a transaction that occurred on Tuesday, June 14th. The stock was sold at an average price of $29.84, for a total value of $193,960.00. Following 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 have recently added to or reduced their stakes in the company. I.G. Investment Management LTD. increased its position in 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 last quarter. BNP Paribas Arbitrage SA increased its position in 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 last quarter. Finally, Schroder Investment Management Group increased its position 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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