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Akorn (NASDAQ:AKRX) Director John N. Kapoor sold 50,000 shares of Akorn stock on the open market in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $38.99, for a total value of $1,949,500.00. Following the transaction, the director now directly owns 500,730 shares in the company, valued at approximately $19,523,463. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

AKRX has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of Akorn from a “neutral” rating to an “outperform” rating in a research note on Monday, August 11th. They now have a $36.90 price target on the stock. Separately, analysts at Jefferies Group raised their price target on shares of Akorn from $31.00 to $40.00 in a research note on Wednesday, August 6th. Finally, analysts at Piper Jaffray raised their price target on shares of Akorn from $33.00 to $45.00 in a research note on Wednesday, August 6th. They now have an “overweight” rating on the stock. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $35.30.

Akorn (NASDAQ:AKRX) traded down 0.31% during mid-day trading on Wednesday, hitting $38.90. 1,391,142 shares of the company’s stock traded hands. Akorn has a 52 week low of $17.77 and a 52 week high of $39.48. The stock has a 50-day moving average of $35.16 and a 200-day moving average of $28.17. The company has a market cap of $4.051 billion and a price-to-earnings ratio of 96.58. Akorn also was the target of a significant growth in short interest in August. As of August 15th, there was short interest totalling 10,222,392 shares, a growth of 11.1% from the July 31st total of 9,204,277 shares. Based on an average daily trading volume, of 1,541,814 shares, the days-to-cover ratio is presently 6.6 days. Approximately 14.5% of the shares of the stock are short sold.

Akorn (NASDAQ:AKRX) last released its earnings data on Tuesday, August 5th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.05. The company had revenue of $150.70 million for the quarter, compared to the consensus estimate of $145.16 million. During the same quarter in the previous year, the company posted $0.14 earnings per share. The company’s revenue for the quarter was up 95.7% on a year-over-year basis. On average, analysts predict that Akorn will post $1.02 earnings per share for the current fiscal year.

Akorn, Inc (NASDAQ:AKRX) 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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