Akorn Director Acquires $27,620 in Stock (AKRX)
Akorn (NASDAQ:AKRX) Director Brian Tambi acquired 1,000 shares of the company’s stock on the open market in a transaction dated Friday, June 13th. The shares were purchased at an average price of $27.62 per share, for a total transaction of $27,620.00. Following the completion of the transaction, the director now directly owns 20,557 shares in the company, valued at approximately $567,784. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Akorn (NASDAQ:AKRX) traded up 0.29% during mid-day trading on Monday, hitting $27.83. The stock had a trading volume of 398,914 shares. Akorn has a one year low of $12.91 and a one year high of $29.62. The stock’s 50-day moving average is $27.07 and its 200-day moving average is $24.44. The company has a market cap of $2.892 billion and a price-to-earnings ratio of 63.21.
Akorn (NASDAQ:AKRX) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.16 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.15 by $0.01. The company had revenue of $90.60 million for the quarter, compared to the consensus estimate of $91.44 million. During the same quarter last year, the company posted $0.10 earnings per share. Akorn’s revenue was up 22.6% compared to the same quarter last year. Analysts expect that Akorn will post $0.86 EPS for the current fiscal year.
A number of analysts have recently weighed in on AKRX shares. Analysts at Bank of America reiterated a “buy” rating on shares of Akorn in a research note on Thursday, June 5th. They now have a $28.00 price target on the stock, down previously from $33.00. Separately, analysts at Goldman Sachs initiated coverage on shares of Akorn in a research note on Monday, June 2nd. They set a “neutral” rating and a $27.00 price target on the stock. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of Akorn in a research note on Thursday, May 15th. They now have a $28.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $28.69.
Akorn, Inc is a manufacturer and markets a full line of diagnostic and therapeutic ophthalmic pharmaceuticals, as well as niche hospital drugs and injectable pharmaceuticals.
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