LSV Asset Management decreased its holdings in Akorn, Inc. (NASDAQ:AKRX) by 20.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 94,205 shares of the company’s stock after selling 23,500 shares during the period. LSV Asset Management owned about 0.08% of Akorn worth $3,036,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. LMR Partners LLP bought a new stake in Akorn in the third quarter valued at approximately $200,000. State of Alaska Department of Revenue bought a new stake in Akorn in the fourth quarter valued at approximately $199,000. Cubist Systematic Strategies LLC bought a new stake in Akorn in the second quarter valued at approximately $209,000. Suntrust Banks Inc. bought a new stake in Akorn in the second quarter valued at approximately $234,000. Finally, Opera Trading Capital bought a new stake in Akorn in the fourth quarter valued at approximately $274,000. Hedge funds and other institutional investors own 73.11% of the company’s stock.
Several research firms have issued reports on AKRX. BidaskClub upgraded Akorn from a “strong sell” rating to a “sell” rating in a research note on Monday, February 5th. Zacks Investment Research lowered Akorn from a “hold” rating to a “sell” rating in a research note on Wednesday, January 31st. Jefferies Group set a $34.00 target price on Akorn and gave the stock a “hold” rating in a research note on Sunday, October 29th. Finally, Piper Jaffray Companies set a $34.00 target price on Akorn and gave the stock a “hold” rating in a research note on Sunday, October 22nd. Three research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $29.17.
Akorn, Inc. (NASDAQ AKRX) opened at $31.33 on Wednesday. The firm has a market capitalization of $3,989.75, a P/E ratio of 19.81, a PEG ratio of 1.64 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 52 week low of $20.00 and a 52 week high of $34.00.
In other news, major shareholder John N. Kapoor sold 13,629 shares of the stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $32.67, for a total transaction of $445,259.43. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Brian Tambi sold 15,100 shares of the stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $33.35, for a total value of $503,585.00. The disclosure for this sale can be found here. 28.20% of the stock is currently owned by company insiders.
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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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