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Akorn(AKRX - Get Report) manufactures and markets a range of diagnostic and therapeutic ophthalmic pharmaceuticals, as well as niche hospital drugs and injectable pharmaceuticals. This stock is trading up 1.5% at $10.82 in recent trading after hitting a 52-week high of $11.14 earlier in the day.
Today's Range: $10.73-$11.14
52-Week Range: $4.87-$11.14
Three-Month Average Volume: 1.2 million
Akorn has a market cap of $1.03 billion and an enterprise value of $982 million. The stock trades at a trailing price-to-earnings of 19.1 and a forward price-to-earnings of 29.27. Its estimated growth rate for this year is 72.2%, and for next year it's pegged at 19.4%. The current short interest as a percentage of the float for Akorn is notable at 8%.
From a technical standpoint, AKRX is quickly approaching a big breakout trade if the stock can manage to clear some near-term
overhead resistance at $11.14.
Market players should now look for a sustained high-volume move and close above $11.14. Look for volume on that potential breakout that hits near or above 1.2 million shares. If we get that action, then this stock should continue to trend significantly higher.