Akorn (AKRX) manufactures and markets diagnostic and therapeutic ophthalmic pharmaceuticals, as well as hospital drugs and injectable pharmaceuticals. This stock is trading up 4.8% at $16.52 in recent trading.
Today's Volume: 1.45 millionAverage Volume: 1.1 million Volume % Change: 121% >>4 Drug Stocks Facing FDA Approval Decisions Shares of AKRX are ripping higher today after Piper Jaffray said base their base generic business keeps looking solid and its third-quarter results hold the potential for significant upside. The firm has an overweight rating on the stock with a $21 price target. From a technical perspective, AKRX is ripping higher here off some near-term support at $15.60 with above average volume. This move is quickly pushing the stock within range of a major breakout trade. That trade will hit once AKRX takes out some near-term overhead resistance at $16.70 with high-volume. At last check, AKRX has hit an intraday high of $16.87 and volume is well above its three-month average of 1.1 million shares. Traders should now look for long-biased trades as long as AKRX is trending above $16.70 to $16.87 with strong upside volume flows. I would consider any upside volume day that registers near or above 1.1 million shares as bullish. If we continue to see that action, then look for AKRX to hit $20 in the near future.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV