Teachers Advisors LLC Boosts Position in Akorn, Inc. (AKRX)
Teachers Advisors LLC increased its stake in shares of Akorn, Inc. (NASDAQ:AKRX) by 21.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 188,755 shares of the company’s stock after purchasing an additional 33,067 shares during the quarter. Teachers Advisors LLC owned approximately 0.15% of Akorn worth $6,331,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of the stock. Seven Eight Capital LP acquired a new stake in shares of Akorn during the second quarter worth approximately $552,000. Capital Fund Management S.A. bought a new position in Akorn during the second quarter valued at approximately $2,856,000. Schroder Investment Management Group raised its position in Akorn by 19.0% during the second quarter. Schroder Investment Management Group now owns 861,976 shares of the company’s stock valued at $28,824,000 after acquiring an additional 137,603 shares in the last quarter. Omni Partners LLP bought a new position in Akorn during the second quarter valued at approximately $14,564,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Akorn by 2,889.9% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 380,372 shares of the company’s stock valued at $12,758,000 after acquiring an additional 367,650 shares in the last quarter. Institutional investors and hedge funds own 69.98% of the company’s stock.
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In other news, Director Brian Tambi sold 5,165 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $33.37, for a total value of $172,356.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Bruce Kutinsky sold 40,000 shares of the stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $33.46, for a total value of $1,338,400.00. Following the completion of the sale, the chief operating officer now directly owns 317,480 shares of the company’s stock, valued at approximately $10,622,880.80. The disclosure for this sale can be found here. Corporate insiders own 28.20% of the company’s stock.
Several equities analysts recently weighed in on AKRX shares. Zacks Investment Research lowered shares of Akorn from a “hold” rating to a “strong sell” rating in a research report on Friday, August 25th. BidaskClub raised shares of Akorn from a “hold” rating to a “buy” rating in a research report on Saturday, June 24th. Jefferies Group LLC reaffirmed a “hold” rating and set a $34.00 price objective on shares of Akorn in a research report on Wednesday, July 19th. Piper Jaffray Companies set a $34.00 price objective on shares of Akorn and gave the company a “hold” rating in a research report on Tuesday, August 29th. Finally, Royal Bank Of Canada set a $34.00 price objective on shares of Akorn and gave the company a “hold” rating in a research report on Sunday, July 30th. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. Akorn currently has an average rating of “Hold” and an average price target of $28.56.
Akorn, Inc. (AKRX) opened at 32.83 on Monday. The company has a market cap of $4.10 billion, a price-to-earnings ratio of 33.16 and a beta of 1.40. The company’s 50-day moving average is $32.89 and its 200 day moving average is $32.28. Akorn, Inc. has a 12 month low of $17.61 and a 12 month high of $34.00.
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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