Akorn Inc (AKRX) Files Form 4 Insider Selling : Bruce Kutinsky Sells 142,000 Shares

Akorn Inc (AKRX): Bruce Kutinsky , Chief Operating Officer of Akorn Inc sold 142,000 shares on Jun 7, 2016. The Insider selling transaction was reported by the company on Jun 9, 2016 to the Securities and Exchange Commission. The shares were sold at $31.21 per share for a total value of $4,419,060.00 , the company said in a SEC Form 4 Filing.

Other Insider transactions have been reported by the company according to SEC Form 4, on Jun 7, 2016, Kenneth Abramowitz (director) sold 10,900 shares at $31.09 per share price.On Jun 6, 2016, Brian Tambi (director) sold 25,000 shares at $30.73 per share price.Also, On Jun 6, 2016, Joseph Bonaccorsi (Sr VP Gen Counsel & Secretary) sold 90,250 shares at $31.23 per share price.On Jun 6, 2016, Alan D Weinstein (director) sold 50,000 shares at $30.93 per share price.

Shares of Akorn (AKRX) ended Thursday, Jun 9, 2016 session in red amid volatile trading. The shares closed down -0.52 points or -1.66% at $30.8 with 11,56,183 shares getting traded. Post opening the session at $31.18, the shares hit an intraday low of $30.675 and an intraday high of $31.44 and the price vacillated in this range throughout the day. The company has a market cap of $3,678 M and the number of outstanding shares has been calculated to be 11,94,27,471 shares. The 52-week high of Akorn is $48.53 and the 52-week low is $17.57.

Akorn Money Flow Index Chart

Company has been under the radar of several Street Analysts.Akorn is Reiterated by Deutsche Bank to Buy while Lowering the Price Target of the company shares to $ 33 from a previous price target of $40 . The Rating was issued on Mar 18, 2016.

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.

Leave a Reply

Akorn - Is it time to Sell?

Top Brokerage Firms are advising their investors on Akorn. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.