Dimensional Fund Advisors LP grew its position in Akorn, Inc. (NASDAQ:AKRX) by 2.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,169,587 shares of the company’s stock after purchasing an additional 27,520 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.94% of Akorn worth $39,228,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. OMERS ADMINISTRATION Corp purchased a new position in Akorn in the 2nd quarter worth about $31,585,000. Great West Life Assurance Co. Can boosted its stake in Akorn by 0.7% in the 2nd quarter. Great West Life Assurance Co. Can now owns 51,847 shares of the company’s stock worth $1,738,000 after purchasing an additional 340 shares in the last quarter. World Asset Management Inc acquired a new stake in Akorn in the 2nd quarter worth approximately $210,000. Airain ltd boosted its stake in Akorn by 133.1% in the 2nd quarter. Airain ltd now owns 77,070 shares of the company’s stock worth $2,585,000 after purchasing an additional 44,011 shares in the last quarter. Finally, Alpine Associates Management Inc. acquired a new stake in Akorn in the 2nd quarter worth approximately $8,047,000. Institutional investors and hedge funds own 68.72% of the company’s stock.
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Akorn, Inc. (AKRX) traded up $0.06 during trading hours on Friday, hitting $33.21. 2,907,300 shares of the stock traded hands, compared to its average volume of 2,791,490. The company has a debt-to-equity ratio of 0.92, a quick ratio of 3.17 and a current ratio of 4.16. The stock has a market cap of $4,146.09, a price-to-earnings ratio of 20.59, a price-to-earnings-growth ratio of 1.97 and a beta of 1.33. Akorn, Inc. has a 52-week low of $17.61 and a 52-week high of $34.00.
A number of research firms have issued reports on AKRX. Piper Jaffray Companies reissued a “hold” rating and set a $34.00 price target on shares of Akorn in a research report on Thursday, August 10th. BidaskClub lowered shares of Akorn from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. TheStreet lowered shares of Akorn from a “b-” rating to a “c” rating in a research report on Tuesday, August 1st. Royal Bank of Canada reissued a “sector perform” rating and set a $34.00 price target on shares of Akorn in a research report on Sunday, August 20th. Finally, Jefferies Group LLC set a $34.00 price target on shares of Akorn and gave the stock a “hold” rating in a research report on Sunday, October 29th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company’s stock. Akorn currently has a consensus rating of “Hold” and a consensus target price of $29.38.
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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