Akorn Inc (AKRX) Files Form 4 Insider Selling : Kenneth Abramowitz Sells 10,900 Shares

Akorn Inc (AKRX): Kenneth Abramowitz , director of Akorn Inc sold 10,900 shares on Jun 3, 2016. The Insider selling transaction was reported by the company on Jun 7, 2016 to the Securities and Exchange Commission. The shares were sold at $31.09 per share for a total value of $341,892.00 , 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 6, 2016, Brian Tambi (director) sold 25,000 shares at $30.73 per share price.On Jun 6, 2016, Joseph Bonaccorsi (Sr VP Gen Counsel & Secretary) sold 90,250 shares at $31.23 per share price.Also, On Jun 6, 2016, Alan D Weinstein (director) sold 50,000 shares at $30.93 per share price.On Apr 21, 2015, Mark M Silverberg (Exec VP, Ops Global QA&TechSrv) sold 29,000 shares at $55.00 per share price.

Akorn: On Friday, Jun 3, 2016 heightened volatility was witnessed in Akorn which led to swings in the share price. The shares opened for trading at $30.86 and hit $31.51 on the upside , eventually ending the session at $30.995, with a gain of 0.16% or 0.05 points. The heightened volatility saw the trading volume jump to 17,10,258 shares. The 52-week high of the share price is $48.53 and the company has a market cap of $3,702 M . The 52-week low of the share price is at $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.

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