MANA Advisors LLC Takes $332,000 Position in Akorn, Inc. (AKRX)

MANA Advisors LLC purchased a new stake in shares of Akorn, Inc. (NASDAQ:AKRX) during the fourth quarter, HoldingsChannel reports. The firm purchased 10,283 shares of the company’s stock, valued at approximately $332,000.

A number of other institutional investors also recently modified their holdings of the business. LS Investment Advisors LLC increased its stake in Akorn by 24.0% during the 4th quarter. LS Investment Advisors LLC now owns 12,650 shares of the company’s stock valued at $408,000 after purchasing an additional 2,445 shares in the last quarter. American International Group Inc. increased its stake in Akorn by 1.3% during the 4th quarter. American International Group Inc. now owns 194,234 shares of the company’s stock valued at $6,260,000 after purchasing an additional 2,568 shares in the last quarter. California Public Employees Retirement System increased its stake in Akorn by 1.0% during the 3rd quarter. California Public Employees Retirement System now owns 271,100 shares of the company’s stock valued at $8,998,000 after purchasing an additional 2,600 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in Akorn by 8.6% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 34,843 shares of the company’s stock valued at $1,156,000 after purchasing an additional 2,758 shares in the last quarter. Finally, Aperio Group LLC increased its stake in Akorn by 12.4% during the 3rd quarter. Aperio Group LLC now owns 27,867 shares of the company’s stock valued at $925,000 after purchasing an additional 3,076 shares in the last quarter. Institutional investors and hedge funds own 77.52% of the company’s stock.

AKRX has been the topic of a number of recent analyst reports. BidaskClub lowered shares of Akorn from a “sell” rating to a “strong sell” rating in a research note on Thursday, December 14th. Zacks Investment Research lowered shares of Akorn from a “hold” rating to a “sell” rating in a research note on Wednesday, January 24th. Deutsche Bank set a $34.00 price target on shares of Akorn and gave the company a “hold” rating in a research note on Thursday, February 22nd. William Blair restated a “hold” rating on shares of Akorn in a research note on Thursday, March 1st. Finally, Piper Jaffray Companies set a $34.00 price target on shares of Akorn and gave the company a “hold” rating in a research note on Wednesday, March 7th. Three equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $32.00.

In other news, major shareholder John N. Kapoor sold 13,629 shares of the stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $32.67, for a total value of $445,259.43. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 28.20% of the stock is owned by corporate insiders.

Shares of Akorn, Inc. (NASDAQ AKRX) opened at $18.98 on Monday. The firm has a market cap of $2,377.40, a price-to-earnings ratio of 19.17, a PEG ratio of 0.71 and a beta of 1.78. Akorn, Inc. has a 52 week low of $16.79 and a 52 week high of $34.00. The company has a quick ratio of 3.19, a current ratio of 4.27 and a debt-to-equity ratio of 0.98.

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Akorn Company Profile

Akorn Inc (Akorn), together with its subsidiaries, is a specialty generic pharmaceutical company that develops, manufactures and markets generic and branded prescription pharmaceuticals, as well as private-label over-the-counter (OTC) consumer health products and animal health pharmaceuticals. The Company operates through two segments: Prescription Pharmaceuticals and the Consumer Health.

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Institutional Ownership by Quarter for Akorn (NASDAQ:AKRX)

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