Skandinaviska Enskilda Banken AB publ reduced its holdings in shares of Akorn, Inc. (NASDAQ:AKRX) by 37.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 84,500 shares of the company’s stock after selling 50,500 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned 0.07% of Akorn worth $2,805,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. grew its stake in Akorn by 2.4% during the second quarter. BlackRock Inc. now owns 9,297,346 shares of the company’s stock worth $311,834,000 after buying an additional 216,363 shares during the period. Vanguard Group Inc. grew its stake in Akorn by 2.5% during the second quarter. Vanguard Group Inc. now owns 7,121,766 shares of the company’s stock worth $238,865,000 after buying an additional 176,397 shares during the period. FMR LLC grew its stake in Akorn by 22.1% during the second quarter. FMR LLC now owns 4,347,905 shares of the company’s stock worth $145,829,000 after buying an additional 786,908 shares during the period. Pentwater Capital Management LP purchased a new stake in Akorn during the second quarter worth approximately $132,148,000. Finally, CNH Partners LLC purchased a new stake in Akorn during the second quarter worth approximately $116,243,000. Institutional investors own 73.49% of the company’s stock.

A number of research analysts have recently commented on the stock. Piper Jaffray Companies reissued a “hold” rating and set a $34.00 target price on shares of Akorn in a research report on Thursday, August 10th. Royal Bank Of Canada reissued a “sector perform” rating and set a $34.00 target price on shares of Akorn in a research report on Sunday, August 20th. Jefferies Group set a $34.00 target price on shares of Akorn and gave the stock a “hold” rating in a research report on Sunday, October 29th. Zacks Investment Research raised shares of Akorn from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 24th. Finally, BidaskClub cut shares of Akorn from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 19th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $30.71.

Akorn, Inc. (AKRX) opened at $32.80 on Wednesday. Akorn, Inc. has a 12-month low of $17.61 and a 12-month high of $34.00. The company has a debt-to-equity ratio of 0.92, a quick ratio of 3.17 and a current ratio of 4.16. The company has a market cap of $4,114.82, a price-to-earnings ratio of 20.43, a PEG ratio of 2.06 and a beta of 1.33.

In related news, Director Brian Tambi sold 15,100 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $33.35, for a total value of $503,585.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 28.20% of the company’s stock.

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About Akorn

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.

Institutional Ownership by Quarter for Akorn (NASDAQ:AKRX)

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