Alps Advisors Inc. lessened its holdings in shares of Akorn, Inc. (NASDAQ:AKRX) by 8.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 123,024 shares of the company’s stock after selling 10,953 shares during the quarter. Alps Advisors Inc. owned 0.10% of Akorn worth $4,083,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Candriam Luxembourg S.C.A. increased its position in Akorn by 77.5% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 117,117 shares of the company’s stock worth $3,887,000 after purchasing an additional 51,117 shares in the last quarter. Swiss National Bank increased its position in Akorn by 4.7% during the 3rd quarter. Swiss National Bank now owns 175,384 shares of the company’s stock worth $5,821,000 after purchasing an additional 7,900 shares in the last quarter. Principal Financial Group Inc. increased its position in Akorn by 9.8% during the 3rd quarter. Principal Financial Group Inc. now owns 401,230 shares of the company’s stock worth $13,316,000 after purchasing an additional 35,879 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in Akorn by 8.6% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 34,843 shares of the company’s stock worth $1,156,000 after purchasing an additional 2,758 shares in the last quarter. Finally, IndexIQ Advisors LLC increased its position in Akorn by 18.3% during the 3rd quarter. IndexIQ Advisors LLC now owns 550,112 shares of the company’s stock worth $18,258,000 after purchasing an additional 85,143 shares in the last quarter. 68.72% of the stock is owned by hedge funds and other institutional investors.
Akorn, Inc. (NASDAQ AKRX) traded up $0.06 during trading on Friday, hitting $33.21. The stock had a trading volume of 2,907,300 shares, compared to its average volume of 2,793,047. The stock has a market cap of $4,153.61, a PE ratio of 20.63, a P/E/G ratio of 1.98 and a beta of 1.33. The company has a debt-to-equity ratio of 0.92, a quick ratio of 3.17 and a current ratio of 4.16. Akorn, Inc. has a 12 month low of $17.61 and a 12 month high of $34.00.
AKRX has been the subject of a number of research analyst reports. Jefferies Group LLC reissued a “hold” rating and set a $34.00 target price on shares of Akorn in a research report on Wednesday, July 19th. BidaskClub cut Akorn from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Royal Bank Of Canada set a $34.00 price target on Akorn and gave the stock a “hold” rating in a report on Sunday, July 30th. TheStreet cut Akorn from a “b-” rating to a “c” rating in a report on Tuesday, August 1st. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $34.00 price target on shares of Akorn in a report on Thursday, August 10th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. Akorn has an average rating of “Hold” and a consensus target price of $29.38.
ILLEGAL ACTIVITY WARNING: “Akorn, Inc. (AKRX) Shares Sold by Alps Advisors Inc.” was first posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this story on another domain, it was illegally stolen and reposted in violation of United States and international copyright legislation. The correct version of this story can be accessed at https://www.dispatchtribunal.com/2017/11/12/akorn-inc-akrx-shares-sold-by-alps-advisors-inc.html.
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.
Want to see what other hedge funds are holding AKRX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Akorn, Inc. (NASDAQ:AKRX).
Receive News & Ratings for Akorn Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akorn Inc. and related companies with MarketBeat.com's FREE daily email newsletter.