What’s Next for Akorn Inc (NASDAQ:AKRX) After Having Less Shares Shorted?

April 17, 2018 - By Dolores Ford

The stock of Akorn Inc (NASDAQ:AKRX) registered a decrease of 3.75% in short interest. AKRX’s total short interest was 10.54M shares in April as published by FINRA. Its down 3.75% from 10.95 million shares, reported previously. With 1.13 million shares average volume, it will take short sellers 9 days to cover their AKRX’s short positions. The short interest to Akorn Inc’s float is 11.29%.

The stock increased 1.50% or $0.28 during the last trading session, reaching $18.97. About 476,361 shares traded. Akorn, Inc. (NASDAQ:AKRX) has declined 20.35% since April 17, 2017 and is downtrending. It has underperformed by 31.90% 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 $2.38 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 7 analyst reports since October 20, 2017 according to SRatingsIntel. As per Sunday, November 5, the company rating was maintained by RBC Capital Markets. The rating was maintained by Susquehanna with “Hold” on Thursday, March 15. The stock has “Hold” rating by Piper Jaffray on Friday, October 20. On Wednesday, February 28 the stock rating was maintained by William Blair with “Hold”. On Friday, October 27 the stock rating was maintained by Jefferies with “Hold”. RBC Capital Markets maintained the shares of AKRX in report on Thursday, March 29 with “Hold” rating.

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

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