Insiders Were Right: AKRX Makes New 52-Week High

In trading on Monday, shares of Akorn Inc ( AKRX) touched a new 52-week high of $38.95/share. That's a 143.44% rise, or $22.95 per share from the 52-week low of $16.00 set back on 08/26/2013. That means at today's intraday high, any investor who purchased AKRX stock any time over the past 52 weeks has an unrealized gain, including company insiders.

Over the past six months, insiders have been scooping up shares, and those bets are now paying off handsomely. As summarized by the table below, AKRX has seen 3 different instances of insiders buying over the trailing six month period.

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Purchased Insider Title Shares Price/Share Value
05/16/2014 Joseph Bonaccorsi Secretary 5,000 $26.83 $134,150.00
05/16/2014 Rajat Rai Chief Executive Officer 5,000 $26.76 $133,800.00
06/13/2014 Brian Tambi Director 1,000 $27.62 $27,620.00

The chart below shows where AKRX has traded over the past year, with the 50-day and 200-day moving averages included.

Akorn Inc Moving Averages Chart

In afternoon trading on Monday, AKRX shares are changing hands at $38.46/share, slightly below the new 52-week high.

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