Akorn, Inc. (NASDAQ:AKRX) Director Steven J. Meyer Acquires 20,000 Shares

Akorn, Inc. (NASDAQ:AKRX) Director Steven J. Meyer acquired 20,000 shares of Akorn stock in a transaction dated Wednesday, August 14th. The stock was purchased at an average price of $2.60 per share, with a total value of $52,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Steven J. Meyer also recently made the following trade(s):

  • On Wednesday, May 29th, Steven J. Meyer acquired 10,000 shares of Akorn stock. The stock was purchased at an average price of $3.75 per share, with a total value of $37,500.00.
  • On Monday, May 20th, Steven J. Meyer acquired 15,000 shares of Akorn stock. The stock was purchased at an average price of $4.10 per share, with a total value of $61,500.00.

NASDAQ:AKRX traded up $0.22 during trading hours on Friday, hitting $2.78. 591,704 shares of the company traded hands, compared to its average volume of 1,620,660. The stock has a market capitalization of $353.64 million, a price-to-earnings ratio of -7.73 and a beta of 1.90. Akorn, Inc. has a twelve month low of $2.34 and a twelve month high of $19.56. The firm has a 50-day moving average of $4.00 and a 200 day moving average of $3.87. The company has a current ratio of 0.52, a quick ratio of 0.36 and a debt-to-equity ratio of 0.08.

Akorn (NASDAQ:AKRX) last released its earnings results on Thursday, August 1st. The company reported ($0.02) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.09. The firm had revenue of $178.00 million during the quarter, compared to analysts’ expectations of $171.97 million. Akorn had a negative net margin of 72.25% and a negative return on equity of 17.88%. The firm’s revenue was down 6.8% on a year-over-year basis. Equities research analysts predict that Akorn, Inc. will post -0.38 earnings per share for the current fiscal year.

A number of analysts have recently weighed in on the stock. Royal Bank of Canada set a $5.00 price objective on shares of Akorn and gave the stock a “hold” rating in a research note on Monday. Zacks Investment Research cut shares of Akorn from a “buy” rating to a “hold” rating in a research note on Tuesday, July 16th. BidaskClub cut shares of Akorn from a “sell” rating to a “strong sell” rating in a research note on Wednesday. Finally, ValuEngine upgraded shares of Akorn from a “hold” rating to a “buy” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $6.58.

Large investors have recently added to or reduced their stakes in the stock. Deutsche Bank AG raised its stake in Akorn by 102.7% during the 4th quarter. Deutsche Bank AG now owns 1,886,403 shares of the company’s stock valued at $6,393,000 after purchasing an additional 955,906 shares during the last quarter. Geode Capital Management LLC increased its holdings in Akorn by 11.3% in the 4th quarter. Geode Capital Management LLC now owns 1,132,779 shares of the company’s stock valued at $3,839,000 after buying an additional 115,405 shares during the period. BNP Paribas Arbitrage SA increased its holdings in Akorn by 9.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 630,785 shares of the company’s stock valued at $2,220,000 after buying an additional 56,095 shares during the period. Dimensional Fund Advisors LP increased its holdings in Akorn by 77.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,648,375 shares of the company’s stock valued at $8,978,000 after buying an additional 1,153,675 shares during the period. Finally, Legal & General Group Plc increased its holdings in Akorn by 140.6% in the 4th quarter. Legal & General Group Plc now owns 219,190 shares of the company’s stock valued at $747,000 after buying an additional 128,099 shares during the period. Hedge funds and other institutional investors own 66.36% of the company’s stock.

About Akorn

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.

Read More: The role of implied volatility with call option volume

Receive News & Ratings for Akorn Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akorn and related companies with MarketBeat.com's FREE daily email newsletter.