Akorn Inc. (NASDAQ:AKRX) was down 2.1% during trading on Tuesday . The stock traded as low as $27.74 and last traded at $27.87, with a volume of 507,213 shares traded. The stock had previously closed at $28.48.

Several equities research analysts have recently commented on AKRX shares. Jefferies Group reissued a “buy” rating and set a $35.00 price target on shares of Akorn in a research note on Monday, August 29th. Piper Jaffray Cos. raised Akorn from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $33.00 to $34.00 in a research note on Thursday, September 15th. Zacks Investment Research lowered Akorn from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 19th. JPMorgan Chase & Co. set a $45.00 price target on Akorn and gave the stock a “buy” rating in a research note on Friday, August 5th. Finally, Deutsche Bank AG downgraded Akorn from a “buy” rating to a “hold” rating and set a $33.00 price objective for the company. in a research report on Friday, August 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $34.75.

The firm has a market capitalization of $3.54 billion, a P/E ratio of 18.94 and a beta of 1.08. The firm’s 50-day moving average is $28.85 and its 200 day moving average is $27.98.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/20/akorn-inc-akrx-stock-price-down-2-1.html

Akorn (NASDAQ:AKRX) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.55 by $0.03. Akorn had a net margin of 17.00% and a return on equity of 32.83%. The company had revenue of $280.70 million for the quarter, compared to analyst estimates of $272.99 million. The business’s revenue was up 27.1% compared to the same quarter last year. Analysts anticipate that Akorn Inc. will post $2.17 earnings per share for the current fiscal year.

In other news, Director Kenneth Abramowitz sold 2,691 shares of the stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $30.44, for a total value of $81,914.04. Following the completion of the transaction, the director now directly owns 20,786 shares in the company, valued at $632,725.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 30.10% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. State of Wisconsin Investment Board boosted its position in Akorn by 0.4% in the second quarter. State of Wisconsin Investment Board now owns 54,610 shares of the company’s stock valued at $1,556,000 after buying an additional 200 shares during the period. Argent Capital Management LLC boosted its position in Akorn by 0.8% in the second quarter. Argent Capital Management LLC now owns 47,650 shares of the company’s stock valued at $1,357,000 after buying an additional 400 shares during the period. Profund Advisors LLC boosted its position in Akorn by 3.4% in the second quarter. Profund Advisors LLC now owns 12,858 shares of the company’s stock valued at $366,000 after buying an additional 418 shares during the period. Legal & General Group Plc boosted its position in Akorn by 5.0% in the second quarter. Legal & General Group Plc now owns 10,194 shares of the company’s stock valued at $290,000 after buying an additional 489 shares during the period. Finally, New York State Teachers Retirement System boosted its position in Akorn by 0.4% in the second quarter. New York State Teachers Retirement System now owns 137,000 shares of the company’s stock valued at $3,902,000 after buying an additional 500 shares during the period. Institutional investors and hedge funds own 73.62% of the company’s stock.

Akorn Company Profile

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.

5 Day Chart for NASDAQ:AKRX

Receive News & Ratings for Akorn Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akorn Inc. and related companies with MarketBeat.com's FREE daily email newsletter.