Crossmark Global Holdings Inc. raised its stake in shares of Akorn, Inc. (NASDAQ:AKRX) by 37.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 24,710 shares of the company’s stock after buying an additional 6,730 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Akorn were worth $796,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. LMR Partners LLP purchased a new position in Akorn during the 3rd quarter valued at about $200,000. State of Alaska Department of Revenue bought a new stake in shares of Akorn during the 4th quarter valued at about $199,000. Cubist Systematic Strategies LLC bought a new stake in shares of Akorn during the 2nd quarter valued at about $209,000. Opera Trading Capital bought a new stake in shares of Akorn during the 4th quarter valued at about $274,000. Finally, FNY Partners Fund LP bought a new stake in shares of Akorn during the 3rd quarter valued at about $371,000. 73.11% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently issued reports on AKRX. BidaskClub upgraded Akorn from a “strong sell” rating to a “sell” rating in a research report on Monday, February 5th. Piper Jaffray Companies set a $34.00 price target on Akorn and gave the company a “hold” rating in a research report on Sunday, October 22nd. Zacks Investment Research upgraded Akorn from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 24th. Finally, Jefferies Group set a $34.00 price target on Akorn and gave the company a “hold” rating in a research report on Sunday, October 29th. Three research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $29.17.
In related news, major shareholder John N. Kapoor sold 13,629 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $32.67, for a total value of $445,259.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brian Tambi sold 15,100 shares of the business’s 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. Insiders own 28.20% of the company’s stock.
Shares of Akorn, Inc. (NASDAQ:AKRX) opened at $31.85 on Friday. The firm has a market capitalization of $3,983.51, a P/E ratio of 19.78, a P/E/G ratio of 1.19 and a beta of 1.33. Akorn, Inc. has a 12-month low of $20.00 and a 12-month high of $34.00. The company has a debt-to-equity ratio of 0.92, a current ratio of 4.16 and a quick ratio of 3.17.
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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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