California State Teachers Retirement System Sells 15,372 Shares of Akorn, Inc. (NASDAQ:AKRX)

California State Teachers Retirement System cut its position in shares of Akorn, Inc. (NASDAQ:AKRX) by 9.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 144,606 shares of the company’s stock after selling 15,372 shares during the quarter. California State Teachers Retirement System owned 0.12% of Akorn worth $4,799,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. BlackRock Inc. boosted its position in Akorn by 2.4% during the second quarter. BlackRock Inc. now owns 9,297,346 shares of the company’s stock valued at $311,834,000 after purchasing an additional 216,363 shares during the last quarter. Vanguard Group Inc. boosted its position in Akorn by 2.5% during the second quarter. Vanguard Group Inc. now owns 7,121,766 shares of the company’s stock valued at $238,865,000 after purchasing an additional 176,397 shares during the last quarter. FMR LLC boosted its position in Akorn by 22.1% during the second quarter. FMR LLC now owns 4,347,905 shares of the company’s stock valued at $145,829,000 after purchasing an additional 786,908 shares during the last quarter. Pentwater Capital Management LP bought a new position in Akorn during the second quarter valued at about $132,148,000. Finally, CNH Partners LLC bought a new position in Akorn during the second quarter valued at about $116,243,000. Institutional investors and hedge funds own 73.44% of the company’s stock.

A number of equities analysts have recently commented on the company. Zacks Investment Research upgraded Akorn from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 24th. BidaskClub lowered Akorn from a “sell” rating to a “strong sell” rating in a research note on Thursday, December 14th. Royal Bank of Canada restated a “hold” rating and set a $34.00 price target on shares of Akorn in a research note on Tuesday, October 3rd. Jefferies Group set a $34.00 price target on Akorn and gave the company a “hold” rating in a research note on Sunday, October 29th. Finally, Piper Jaffray Companies set a $34.00 price objective on Akorn and gave the company a “hold” rating in a report on Sunday, October 22nd. Two investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $29.17.

Shares of Akorn, Inc. (NASDAQ:AKRX) opened at $33.51 on Thursday. The company has a market cap of $4,190.00, a price-to-earnings ratio of 56.80, a price-to-earnings-growth ratio of 1.67 and a beta of 1.33. Akorn, Inc. has a 1 year low of $17.74 and a 1 year high of $34.00. The company has a current ratio of 4.16, a quick ratio of 3.17 and a debt-to-equity ratio of 0.92.

In other Akorn news, Director Brian Tambi sold 15,100 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $33.35, for a total transaction of $503,585.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 28.20% of the company’s stock.

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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.

Institutional Ownership by Quarter for Akorn (NASDAQ:AKRX)

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