Akorn Target of Unusually Large Options Trading (AKRX)

Akorn (NASDAQ:AKRX) saw some unusual options trading activity on Tuesday. Investors bought 11,008 put options on the stock. This is an increase of 1,455% compared to the average volume of 708 put options.

Several analysts recently commented on the stock. BidaskClub raised shares of Akorn from a “strong sell” rating to a “sell” rating in a research report on Thursday, January 11th. Zacks Investment Research downgraded shares of Akorn from a “hold” rating to a “sell” rating in a research report on Wednesday, January 24th. Deutsche Bank set a $34.00 price objective on shares of Akorn and gave the company a “hold” rating in a research report on Thursday, February 22nd. Royal Bank of Canada set a $25.00 price objective on shares of Akorn and gave the company a “hold” rating in a research report on Thursday, March 29th. Finally, Piper Jaffray set a $34.00 price target on shares of Akorn and gave the company a “hold” rating in a report on Wednesday, March 7th. Two analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $28.20.

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Shares of NASDAQ AKRX opened at $13.24 on Wednesday. The company has a current ratio of 4.27, a quick ratio of 3.19 and a debt-to-equity ratio of 0.98. The stock has a market cap of $1,634.62, a PE ratio of 8.11, a P/E/G ratio of 1.05 and a beta of 1.69. Akorn has a 52-week low of $12.40 and a 52-week high of $33.95.



In related news, major shareholder John N. Kapoor sold 13,629 shares of the stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $32.67, for a total transaction of $445,259.43. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 28.20% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of Akorn by 2.8% during the 4th quarter. BlackRock Inc. now owns 7,958,348 shares of the company’s stock valued at $256,496,000 after acquiring an additional 215,686 shares during the last quarter. Twin Securities Inc. boosted its holdings in shares of Akorn by 190.8% during the 4th quarter. Twin Securities Inc. now owns 3,767,422 shares of the company’s stock valued at $121,424,000 after acquiring an additional 2,471,711 shares during the last quarter. Gardner Lewis Asset Management L P boosted its holdings in shares of Akorn by 65.0% during the 4th quarter. Gardner Lewis Asset Management L P now owns 3,670,371 shares of the company’s stock valued at $118,296,000 after acquiring an additional 1,445,923 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Akorn by 5.2% in the 4th quarter. Renaissance Technologies LLC now owns 2,832,600 shares of the company’s stock worth $91,295,000 after purchasing an additional 139,100 shares during the period. Finally, Deutsche Bank AG lifted its stake in shares of Akorn by 8.7% in the 4th quarter. Deutsche Bank AG now owns 2,037,471 shares of the company’s stock worth $65,666,000 after purchasing an additional 163,367 shares during the period. 78.08% of the stock is currently owned by hedge funds and other institutional investors.

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Akorn Company Profile

Akorn, Inc, a specialty generic pharmaceutical company, develops, manufactures, and markets generic and branded prescription pharmaceuticals, over-the-counter (OTC) consumer health products, and animal health pharmaceuticals in the United States and internationally. The company operates in two segments, Prescription Pharmaceuticals and Consumer Health.

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