Akorn (NASDAQ:AKRX) has tumbled 4.4% during the past week and has dropped 5.34% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 3.25%. Akorn (NASDAQ:AKRX) has underperformed the index by 6.2% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Akorn (NASDAQ:AKRX): The stock opened at $29.44 on Friday but the bulls could not build on the opening and the stock topped out at $29.78 for the day. The stock traded down to $28.88 during the day, due to lack of any buying support eventually closed down at $28.92 with a loss of -1.63% for the day. The stock had closed at $29.40 on the previous day. The total traded volume was 1,942,865 shares.
The company shares have dropped -39.88% from its 1 Year high price. On Jun 23, 2015, the shares registered one year high at $48.50 and the one year low was seen on Mar 18, 2016. The 50-Day Moving Average price is $28.65 and the 200 Day Moving Average price is recorded at $28.33.
On the companys insider trading activities, Bonaccorsi Joseph, officer (Sr VP Gen Counsel & Secretary) of Akorn Inc, unloaded 6,500 shares at an average price of $29.84 on June 14, 2016. The total amount of the transaction was worth $193,960, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
Many analysts have stated their opinion on the company shares. Equity Analysts at the William Blair maintains the rating on Akorn (NASDAQ:AKRX). The brokerage firm has issued a Outperform rating on the shares. The Analysts at the ratings agency lowers the price target from $58 per share to $36 per share. The rating by the firm was issued on March 23, 2016. Currently the company Insiders own 30.1% of Akorn shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -9.1% . Institutional Investors own 80.4% of Akorn shares. During last six month period, the net percent change held by insiders has seen a change of -9.1%.
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. The Company operates in two segments: Prescription Pharmaceuticals, which is engaged in the sale of branded and generic prescription pharmaceuticals, and Consumer Health, which is engaged in the sale of branded and private label consumer and animal health products. The Company operates pharmaceutical manufacturing facilities in Decatur, Illinois; Somerset, New Jersey; Amityville, New York, and Paonta Sahib, Himachal Pradesh, India, as well as a central distribution warehouse in Gurnee, Illinois, and an additional warehousing facility in Amityville, New York.