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Shares of Akorn Inc Fall Below Previous 52-Week Low

By Nick Russo

Shares of Akorn Inc (NASDAQ:AKRX) traded today at $2.52, breaking its 52-week low. This new low was reached on below average trading volume as 379,000 shares traded hands, while the average 30-day volume is approximately 1.4 million shares.

There is potential upside of 911.9% for shares of Akorn Inc based on a current price of $2.52 and an average consensus analyst price target of $25.50. The stock should find initial resistance at its 50-day moving average (MA) of $4.13 and further resistance at its 200-day MA of $4.28.

Akorn, Inc. is a niche pharmaceutical company that develops, manufactures, and markets generic and branded prescription pharmaceuticals. The Company manufactures sterile and non-sterile dosage forms, including ophthalmics, injectables, oral liquids, topicals, inhalants, and nasal sprays. Akorn markets its products to pharmacies, physicians, hospitals, and government agencies.

Over the past year, Akorn Inchas traded in a range of $2.52 to $19.56 and are now at $2.52. Over the past week, the 200-day moving average (MA) has gone down 1.3% while the 50-day MA has declined 1.9%.

SmarTrend recommended that its subscribers protect gains by selling shares of Akorn Inc on July 17th, 2019 by issuing a Downtrend alert when the shares were trading at $4.15. Since that call, shares of Akorn Inc have fallen 37.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows akorn inc

Ticker(s): AKRX