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Akorn Reaches New 52-Week High (AKRX)

By TheStreet Wire 06/08/12 - 03:36 PM EDT

Find out if (AKRX) is in Cramer's Portfolio.

NEW YORK (TheStreet) -- Akorn (Nasdaq:AKRX) hit a new 52-week high Friday as it is currently trading at $14.52, above its previous 52-week high of $14.50 with 757,108 shares traded as of 3:10 p.m. ET. Average volume has been 1.1 million shares over the past 30 days.

Akorn has a market cap of $1.33 billion and is part of the health care sector and drugs industry. Shares are up 27.2% year to date as of the close of trading on Thursday.

Akorn, Inc. engages in the manufacture and marketing of diagnostic and therapeutic ophthalmic pharmaceuticals products, niche hospital drugs, and injectable pharmaceuticals in the United States and internationally. The company has a P/E ratio of 32.5, equal to the average drugs industry P/E ratio and above the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Akorn as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, impressive record of earnings per share growth and compelling growth in net income. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. You can view the full Akorn Ratings Report.

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