Akorn, Inc. (NASDAQ:AKRX) Short Interest Down 31.6% in January

Akorn, Inc. (NASDAQ:AKRX) was the recipient of a large decrease in short interest during the month of January. As of January 15th, there was short interest totalling 5,820,000 shares, a decrease of 31.6% from the December 31st total of 8,510,000 shares. Currently, 6.1% of the shares of the stock are sold short. Based on an average trading volume of 2,360,000 shares, the short-interest ratio is currently 2.5 days.

NASDAQ:AKRX traded down $0.05 on Friday, reaching $1.31. The stock had a trading volume of 1,421,393 shares, compared to its average volume of 3,002,529. The company has a market cap of $171.56 million, a price-to-earnings ratio of -0.46, a P/E/G ratio of 0.56 and a beta of 1.69. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.53 and a quick ratio of 0.36. The firm’s fifty day moving average is $1.95 and its two-hundred day moving average is $3.33. Akorn has a 12-month low of $1.19 and a 12-month high of $5.46.

Akorn (NASDAQ:AKRX) last released its earnings results on Thursday, October 31st. The company reported $0.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.06. The company had revenue of $176.24 million for the quarter, compared to analyst estimates of $176.15 million. Akorn had a negative net margin of 53.62% and a negative return on equity of 19.95%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.06) EPS. As a group, research analysts forecast that Akorn will post -0.27 earnings per share for the current fiscal year.

AKRX has been the topic of a number of research reports. ValuEngine raised shares of Akorn from a “hold” rating to a “buy” rating in a research note on Wednesday, December 18th. BidaskClub cut shares of Akorn from a “sell” rating to a “strong sell” rating in a research note on Thursday, November 21st. Finally, Zacks Investment Research cut shares of Akorn from a “hold” rating to a “sell” rating in a research note on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Akorn currently has a consensus rating of “Hold” and an average price target of $5.63.

Several hedge funds have recently made changes to their positions in the company. Bank of Montreal Can lifted its position in Akorn by 122.1% during the second quarter. Bank of Montreal Can now owns 8,931 shares of the company’s stock valued at $46,000 after acquiring an additional 4,909 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Akorn by 2.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 565,797 shares of the company’s stock worth $2,914,000 after acquiring an additional 13,036 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Akorn by 0.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,113,911 shares of the company’s stock worth $5,736,000 after acquiring an additional 7,235 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Akorn by 4.1% during the 2nd quarter. Northern Trust Corp now owns 1,357,625 shares of the company’s stock worth $6,991,000 after acquiring an additional 53,376 shares in the last quarter. Finally, Parametric Portfolio Associates LLC boosted its stake in shares of Akorn by 19.2% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 438,184 shares of the company’s stock worth $2,257,000 after acquiring an additional 70,732 shares in the last quarter. Institutional investors and hedge funds own 65.73% of the company’s stock.

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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