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NEW YORK ( TheStreet) -- Akorn (Nasdaq: AKRX) hit a new 52-week high Wednesday as it is currently trading at $13.97, above its previous 52-week high of $13.96 with 501,713 shares traded as of 2:25 p.m. ET. Average volume has been 1.1 million shares over the past 30 days. Akorn has a market cap of $1.3 billion and is part of the health care sector and drugs industry. Shares are up 23.2% year to date as of the close of trading on Tuesday. 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 31.9, equal to the average drugs industry P/E ratio and above the S&P 500 P/E ratio of 17.7.