Aperio Group LLC Boosts Position in Akorn, Inc. (AKRX)
Aperio Group LLC increased its stake in shares of Akorn, Inc. (NASDAQ:AKRX) by 12.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,867 shares of the company’s stock after purchasing an additional 3,076 shares during the quarter. Aperio Group LLC’s holdings in Akorn were worth $925,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also modified their holdings of AKRX. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Akorn by 22.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,228 shares of the company’s stock valued at $108,000 after acquiring an additional 599 shares in the last quarter. Victory Capital Management Inc. raised its position in Akorn by 17.6% during the second quarter. Victory Capital Management Inc. now owns 4,177 shares of the company’s stock valued at $140,000 after acquiring an additional 626 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in Akorn during the second quarter valued at approximately $209,000. World Asset Management Inc bought a new position in Akorn during the second quarter valued at approximately $210,000. Finally, Suntrust Banks Inc. bought a new position in Akorn during the second quarter valued at approximately $234,000. 74.66% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Akorn, Inc. (AKRX) opened at $33.40 on Tuesday. The stock has a market cap of $4,180.00, a price-to-earnings ratio of 20.75, a PEG ratio of 1.99 and a beta of 1.33. The company has a debt-to-equity ratio of 0.92, a current ratio of 4.16 and a quick ratio of 3.17. Akorn, Inc. has a 52 week low of $17.61 and a 52 week high of $34.00.
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Several brokerages recently weighed in on AKRX. 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. BidaskClub lowered shares of Akorn from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. TheStreet lowered shares of Akorn from a “b-” rating to a “c” rating in a research report on Tuesday, August 1st. Piper Jaffray Companies reissued a “hold” rating and issued a $34.00 price target on shares of Akorn in a research report on Thursday, August 10th. Finally, Zacks Investment Research raised shares of Akorn from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 24th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $29.38.
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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