Is Selling Akorn, Inc. Here a Winning Strategy? Option Traders Hate The Stock

 Is Selling Akorn, Inc. Here a Winning Strategy? Option Traders Hate The Stock

In today’s session Akorn, Inc. (AKRX) recorded an unusually high (270) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious AKRX decrease. With 270 contracts traded and 3594 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: AKRX161118P00022500 closed last at: $0.75 or 15.4% up. About 63,136 shares traded hands. Akorn, Inc. (NASDAQ:AKRX) has declined 19.68% since April 20, 2016 and is downtrending. It has underperformed by 24.24% the S&P500.

Akorn, Inc. (NASDAQ:AKRX) Ratings Coverage

Out of 14 analysts covering Akorn Inc (NASDAQ:AKRX), 6 rate it a “Buy”, 1 “Sell”, while 7 “Hold”. This means 43% are positive. Akorn Inc has been the topic of 21 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of Akorn, Inc. (NASDAQ:AKRX) earned “Outperform” rating by William Blair on Wednesday, March 23. The rating was initiated by Susquehanna with “Neutral” on Tuesday, July 21. Raymond James downgraded the stock to “Market Perform” rating in Tuesday, August 2 report. RBC Capital Markets downgraded it to “Sector Perform” rating and $24 target price in Friday, November 4 report. As per Wednesday, March 16, the company rating was maintained by Leerink Swann. JP Morgan maintained the shares of AKRX in a report on Monday, March 14 with “Overweight” rating. The rating was downgraded by Bank of America to “Underperform” on Monday, November 7. On Thursday, September 15 the stock rating was upgraded by Piperjaffray to “Overweight”. The stock of Akorn, Inc. (NASDAQ:AKRX) earned “Market Perform” rating by Leerink Swann on Wednesday, March 23. The stock has “Neutral” rating given by Susquehanna on Wednesday, March 23.

According to Zacks Investment Research, “Akorn, Inc. manufactures and markets diagnostic and therapeutic pharmaceuticals in specialty areas such as ophthalmology, rheumatology, anesthesia and antidotes, among others. They also market ophthalmic surgical instruments and related products. Customers include physicians, optometrists, wholesalers, group purchasing organizations and other pharmaceutical companies. They also provide contract manufacturing services.”

Akorn Inc., together with its subsidiaries, is a specialty pharmaceutical firm that develops, makes and markets generic and branded prescription pharmaceuticals, as well as private-label over-the-counter consumer health products and animal health pharmaceuticals. The company has a market cap of $2.68 billion. The Firm operates through two divisions: Prescription Pharmaceuticals and the Consumer Health. It has a 14.61 P/E ratio. The Prescription Pharmaceuticals segment is engaged in manufacturing and marketing generic and branded prescription pharmaceuticals, including ophthalmics, injectables, oral liquids, otics, topical, inhalants and nasal sprays.

AKRX Company Profile

Akorn Inc. (Akorn), incorporated on January 20, 1971, together with its subsidiaries, is a specialty pharmaceutical firm that develops, makes and markets generic and branded prescription pharmaceuticals, as well as private-label over-the-counter (OTC) consumer health products and animal health pharmaceuticals. The Firm operates through two divisions: Prescription Pharmaceuticals and the Consumer Health. The Firm is engaged in the development, manufacturing and marketing of generic pharmaceutical products in alternative dosage forms. It is focused on sterile and non-sterile dosage forms including, ophthalmics, injectables, oral liquids, otics, topicals, inhalants and nasal sprays. The Company’s Akorn Consumer Health division (ACH) markets a portfolio of OTC brands and various formulations of private-label OTC pharmaceutical products. The Company’s OTC brand is TheraTears Therapy for Your Eyes, which is a family of therapeutic eye care products, including dry eye therapy lubricating eye drops, eyelid and eyelash cleansing foam and eye nutrition supplements.

More recent Akorn, Inc. (NASDAQ:AKRX) news were published by: Fool.com which released: “The Ridiculous Reason Akorn, Inc. Shares Dropped as Much as 17.4% Today” on November 03, 2016. Also Forbes.com published the news titled: “Oversold Conditions For Akorn (AKRX)” on November 03, 2016. Finance.Yahoo.com‘s news article titled: “Robbins Arroyo LLP: Akorn, Inc. (AKRX) Misled Shareholders According to a …” with publication date: October 28, 2016 was also an interesting one.

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