State of Wisconsin Investment Board lifted its stake in Akorn, Inc. (NASDAQ:AKRX) by 136.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 454,239 shares of the company’s stock after buying an additional 261,886 shares during the period. State of Wisconsin Investment Board owned approximately 0.36% of Akorn worth $15,076,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of AKRX. BlackRock Inc. grew its position in shares of Akorn by 12,960.9% in the 1st quarter. BlackRock Inc. now owns 9,080,983 shares of the company’s stock valued at $218,671,000 after buying an additional 9,011,455 shares during the last quarter. Pentwater Capital Management LP purchased a new position in Akorn during the 2nd quarter worth $132,148,000. CNH Partners LLC purchased a new position in Akorn during the 2nd quarter worth $116,243,000. OMERS ADMINISTRATION Corp purchased a new position in Akorn during the 2nd quarter worth $31,585,000. Finally, Renaissance Technologies LLC purchased a new position in Akorn during the 2nd quarter worth $30,518,000. 68.67% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have issued reports on AKRX shares. Royal Bank Of Canada reissued a “sector perform” rating and set a $34.00 price objective on shares of Akorn in a research report on Sunday, August 20th. Zacks Investment Research raised shares of Akorn from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 24th. TheStreet downgraded shares of Akorn from a “b-” rating to a “c” rating in a research report on Tuesday, August 1st. BidaskClub downgraded shares of Akorn from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Finally, Jefferies Group LLC set a $34.00 price objective on shares of Akorn and gave the stock a “hold” rating in a research report on Sunday, October 29th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company. Akorn currently has a consensus rating of “Hold” and a consensus price target of $29.38.
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Shares of Akorn, Inc. (NASDAQ AKRX) opened at $33.31 on Tuesday. Akorn, Inc. has a 52 week low of $17.61 and a 52 week high of $34.00. The company has a market cap of $4,153.60, a price-to-earnings ratio of 20.63, a PEG ratio of 1.98 and a beta of 1.33. The company has a quick ratio of 3.17, a current ratio of 4.16 and a debt-to-equity ratio of 0.92.
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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