Deutsche Bank AG raised its holdings in Akorn, Inc. (NASDAQ:AKRX) by 8.7% in the fourth quarter, Holdings Channel reports. The fund owned 2,037,471 shares of the company’s stock after acquiring an additional 163,367 shares during the quarter. Deutsche Bank AG’s holdings in Akorn were worth $65,666,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Wolverine Asset Management LLC lifted its stake in Akorn by 666.1% in the fourth quarter. Wolverine Asset Management LLC now owns 125,645 shares of the company’s stock valued at $4,049,000 after acquiring an additional 109,245 shares during the last quarter. Gardner Lewis Asset Management L P lifted its stake in Akorn by 65.0% in the fourth quarter. Gardner Lewis Asset Management L P now owns 3,670,371 shares of the company’s stock valued at $118,296,000 after acquiring an additional 1,445,923 shares during the last quarter. Manikay Partners LLC lifted its stake in Akorn by 745.1% in the fourth quarter. Manikay Partners LLC now owns 1,500,000 shares of the company’s stock valued at $48,345,000 after acquiring an additional 1,322,500 shares during the last quarter. Driehaus Capital Management LLC acquired a new stake in Akorn in the fourth quarter valued at approximately $7,091,000. Finally, Twin Securities Inc. lifted its stake in Akorn by 190.8% in the fourth quarter. Twin Securities Inc. now owns 3,767,422 shares of the company’s stock valued at $121,424,000 after acquiring an additional 2,471,711 shares during the last quarter. Hedge funds and other institutional investors own 77.52% of the company’s stock.
In other news, major shareholder John N. Kapoor sold 13,629 shares of the business’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 28.20% of the stock is currently owned by insiders.
Shares of Akorn, Inc. (NASDAQ:AKRX) opened at $18.96 on Wednesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 4.27 and a quick ratio of 3.19. Akorn, Inc. has a one year low of $16.79 and a one year high of $34.00. The firm has a market cap of $2,376.15, a price-to-earnings ratio of 11.78, a PEG ratio of 0.71 and a beta of 1.78.
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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