941,700 Shares in Akorn, Inc. (AKRX) Acquired by OMERS ADMINISTRATION Corp
OMERS ADMINISTRATION Corp purchased a new position in Akorn, Inc. (NASDAQ:AKRX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 941,700 shares of the company’s stock, valued at approximately $31,585,000. OMERS ADMINISTRATION Corp owned about 0.75% of Akorn as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of AKRX. BlackRock Inc. increased its position in shares of Akorn by 12,960.9% in the first quarter. BlackRock Inc. now owns 9,080,983 shares of the company’s stock worth $218,671,000 after buying an additional 9,011,455 shares during the last quarter. Columbia Wanger Asset Management LLC increased its position in shares of Akorn by 127.5% in the first quarter. Columbia Wanger Asset Management LLC now owns 2,682,821 shares of the company’s stock worth $64,602,000 after buying an additional 1,503,366 shares during the last quarter. FMR LLC increased its position in shares of Akorn by 54.0% in the first quarter. FMR LLC now owns 3,560,997 shares of the company’s stock worth $85,748,000 after buying an additional 1,249,329 shares during the last quarter. Fosun International Ltd increased its position in shares of Akorn by 134.5% in the first quarter. Fosun International Ltd now owns 2,048,869 shares of the company’s stock worth $49,336,000 after buying an additional 1,175,306 shares during the last quarter. Finally, Thornburg Investment Management Inc. acquired a new position in shares of Akorn during the first quarter worth about $24,748,000. 69.71% of the stock is currently owned by institutional investors and hedge funds.
Akorn, Inc. (AKRX) traded down 0.06% during midday trading on Monday, reaching $32.48. 174,486 shares of the company’s stock traded hands. The company has a market capitalization of $4.06 billion, a PE ratio of 32.81 and a beta of 1.36. Akorn, Inc. has a 1-year low of $17.61 and a 1-year high of $34.00. The firm’s 50 day moving average price is $33.31 and its 200-day moving average price is $29.99.
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Several equities analysts recently issued reports on AKRX shares. Zacks Investment Research downgraded Akorn from a “hold” rating to a “strong sell” rating in a research report on Friday. BidaskClub raised Akorn from a “hold” rating to a “buy” rating in a research report on Saturday, June 24th. Jefferies Group LLC reissued a “hold” rating and issued a $34.00 target price on shares of Akorn in a research report on Wednesday, July 19th. Royal Bank Of Canada set a $34.00 target price on Akorn and gave the company a “hold” rating in a research report on Sunday, July 30th. Finally, TheStreet downgraded Akorn from a “b-” rating to a “c” rating in a research report on Tuesday, August 1st. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. Akorn currently has a consensus rating of “Hold” and a consensus target price of $28.56.
In other Akorn news, COO Bruce Kutinsky sold 40,000 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $33.46, for a total transaction of $1,338,400.00. Following the transaction, the chief operating officer now owns 317,480 shares of the company’s stock, valued at approximately $10,622,880.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Brian Tambi sold 5,165 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $33.37, for a total transaction of $172,356.05. The disclosure for this sale can be found here. 28.20% of the stock is owned by company insiders.
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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