Akorn (AKRX) : Traders are bullish on Akorn (AKRX) as it has outperformed the S&P 500 by a margin of 9.9% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 3.85%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 4.49% in the last 1 week, and is up 17.32% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Akorn (NASDAQ:AKRX): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $32.38 and $31.92 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $32.64. The buying momentum continued till the end and the stock did not give up its gains. It closed at $32.58, notching a gain of 1.24% for the day. The total traded volume was 836,963 . The stock had closed at $32.18 on the previous day.
The stock has recorded a 20-day Moving Average of 9.04% and the 50-Day Moving Average is 9.28%. Akorn, Inc. is up 15% in the last 3-month period. Year-to-Date the stock performance stands at -12.68%.
Akorn Inc. (Akorn), together with its wholly owned subsidiaries, is a specialty pharmaceutical company that develops, manufactures and markets generic and branded prescription pharmaceuticals, as well as animal and over-the-counter (OTC) consumer health products. The Company specializes in sterile and non-sterile dosage forms, including ophthalmics, injectables, oral liquids, otics, topicals, inhalants and nasal sprays. The Company operates in two segments: Prescription Pharmaceuticals, which is engaged in the sale of branded and generic prescription pharmaceuticals, and Consumer Health, which is engaged in the sale of branded and private label consumer and animal health products. The Company operates pharmaceutical manufacturing facilities in Decatur, Illinois; Somerset, New Jersey; Amityville, New York, and Paonta Sahib, Himachal Pradesh, India, as well as a central distribution warehouse in Gurnee, Illinois, and an additional warehousing facility in Amityville, New York.