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.
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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