Akorn, Inc. (NASDAQ:AKRX) COO Bruce Kutinsky sold 40,000 shares of the business’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $33.46, for a total transaction of $1,338,400.00. Following the completion of the sale, the chief operating officer now directly owns 317,480 shares in the company, valued at $10,622,880.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Shares of Akorn, Inc. (NASDAQ AKRX) remained flat at $33.47 during midday trading on Monday. The stock had a trading volume of 1,748,451 shares. The stock has a market cap of $4.18 billion, a PE ratio of 33.81 and a beta of 1.36. The stock’s 50 day moving average price is $33.55 and its 200 day moving average price is $28.49. Akorn, Inc. has a one year low of $17.61 and a one year high of $35.40.

ILLEGAL ACTIVITY WARNING: “Akorn, Inc. (NASDAQ:AKRX) COO Sells $1,338,400.00 in Stock” was originally reported by American Banking News and is the property of of American Banking News. If you are accessing this news story on another website, it was illegally copied and republished in violation of US & international copyright & trademark law. The legal version of this news story can be read at https://www.americanbankingnews.com/2017/08/07/akorn-inc-nasdaqakrx-coo-sells-1338400-00-in-stock.html.

Several research firms recently commented on AKRX. Jefferies Group LLC reaffirmed a “hold” rating and issued a $34.00 price objective on shares of Akorn in a research report on Wednesday, July 19th. Royal Bank Of Canada set a $34.00 price objective on shares of Akorn and gave the company a “hold” rating in a research report on Sunday, July 30th. BidaskClub cut shares of Akorn from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. TheStreet cut shares of Akorn from a “b-” rating to a “c” rating in a research report on Tuesday, August 1st. Finally, Zacks Investment Research raised shares of Akorn from a “sell” rating to a “hold” rating in a research report on Monday, May 8th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. Akorn has a consensus rating of “Hold” and an average price target of $28.56.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. NEXT Financial Group Inc boosted its position in shares of Akorn by 990.9% in the first quarter. NEXT Financial Group Inc now owns 3,000 shares of the company’s stock worth $100,000 after buying an additional 2,725 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Akorn by 17.6% in the second quarter. Victory Capital Management Inc. now owns 4,177 shares of the company’s stock worth $140,000 after buying an additional 626 shares in the last quarter. Meadow Creek Investment Management LLC boosted its position in shares of Akorn by 8.3% in the first quarter. Meadow Creek Investment Management LLC now owns 4,368 shares of the company’s stock worth $105,000 after buying an additional 336 shares in the last quarter. Glen Harbor Capital Management LLC boosted its position in shares of Akorn by 8.3% in the first quarter. Glen Harbor Capital Management LLC now owns 5,304 shares of the company’s stock worth $128,000 after buying an additional 408 shares in the last quarter. Finally, World Asset Management Inc acquired a new position in shares of Akorn during the second quarter worth about $210,000. Hedge funds and other institutional investors own 74.73% of the company’s stock.

Akorn Company Profile

Akorn Inc (Akorn), together with its subsidiaries, is a specialty generic pharmaceutical company that develops, manufactures and markets generic and branded prescription pharmaceuticals, as well as private-label over-the-counter (OTC) consumer health products and animal health pharmaceuticals. The Company operates through two segments: Prescription Pharmaceuticals and the Consumer Health.

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.