Can Akorn Inc (NASDAQ:AKRX)’s Tomorrow be Different? The Stock Had Increase in Shorts

June 17, 2018 - By Peter Erickson

The stock of Akorn Inc (NASDAQ:AKRX) registered an increase of 29.8% in short interest. AKRX’s total short interest was 12.58M shares in June as published by FINRA. Its up 29.8% from 9.69M shares, reported previously. With 4.08M shares average volume, it will take short sellers 3 days to cover their AKRX’s short positions. The short interest to Akorn Inc’s float is 13.48%.

The stock increased 2.53% or $0.38 during the last trading session, reaching $15.42. About 1.98 million shares traded. Akorn, Inc. (NASDAQ:AKRX) has declined 57.67% since June 17, 2017 and is downtrending. It has underperformed by 70.24% the S&P500.

Akorn, Inc., a specialty generic pharmaceutical company, develops, makes, and markets specialized generic and branded pharmaceuticals, over-the-counter drug products, and animal health products in the United States and internationally. The company has market cap of $1.93 billion. The firm operates in two divisions, Prescription Pharmaceuticals and Consumer Health. It currently has negative earnings. The Prescription Pharmaceuticals segment offers generic and branded prescription pharmaceuticals in various dosage forms, including sterile ophthalmics, injectables, and inhalants; and non-sterile oral liquids, topicals, nasal sprays, and otics.

Akorn, Inc. (NASDAQ:AKRX) Ratings Coverage

Among 6 analysts covering Akorn (NASDAQ:AKRX), 0 have Buy rating, 0 Sell and 6 Hold. Therefore 0 are positive. Akorn had 6 analyst reports since February 22, 2018 according to SRatingsIntel. Craig Hallum maintained the shares of AKRX in report on Monday, April 23 with “Hold” rating. Piper Jaffray maintained the shares of AKRX in report on Monday, April 23 with “Hold” rating. The company was maintained on Wednesday, February 28 by William Blair. The firm earned “Hold” rating on Thursday, March 15 by Susquehanna. As per Thursday, March 29, the company rating was maintained by RBC Capital Markets.

Another recent and important Akorn, Inc. (NASDAQ:AKRX) news was published by Seekingalpha.com which published an article titled: “Akorn And Fresenius: Merger Arbitrage” on June 08, 2018.

Akorn, Inc. (NASDAQ:AKRX) Institutional Positions Chart

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