ARP Americas LP boosted its position in Akorn, Inc. (NASDAQ:AKRX) by 34.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 170,580 shares of the company’s stock after acquiring an additional 43,740 shares during the quarter. Akorn makes up about 1.6% of ARP Americas LP’s holdings, making the stock its 13th largest position. ARP Americas LP’s holdings in Akorn were worth $5,432,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in AKRX. Cheyne Capital Management UK LLP acquired a new stake in Akorn in the third quarter valued at about $1,686,000. Alpine Associates Management Inc. lifted its position in Akorn by 395.7% in the third quarter. Alpine Associates Management Inc. now owns 1,189,216 shares of the company’s stock valued at $39,469,000 after purchasing an additional 949,316 shares during the period. APG Asset Management N.V. acquired a new stake in Akorn in the third quarter valued at about $11,168,000. Cornerstone Capital Management Holdings LLC. lifted its position in Akorn by 1,277.6% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 331,214 shares of the company’s stock valued at $10,992,000 after purchasing an additional 307,171 shares during the period. Finally, GABELLI & Co INVESTMENT ADVISERS INC. lifted its position in Akorn by 98.7% in the third quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 575,219 shares of the company’s stock valued at $19,092,000 after purchasing an additional 285,793 shares during the period. Hedge funds and other institutional investors own 73.11% of the company’s stock.
In other Akorn news, Director Brian Tambi sold 15,100 shares of the stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $33.35, for a total value of $503,585.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder John N. Kapoor sold 13,629 shares of the stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $32.67, for a total transaction of $445,259.43. The disclosure for this sale can be found here. Company insiders own 28.20% of the company’s stock.
Akorn, Inc. (AKRX) opened at $31.85 on Monday. Akorn, Inc. has a 1-year low of $20.00 and a 1-year high of $34.00. The company has a debt-to-equity ratio of 0.92, a current ratio of 4.16 and a quick ratio of 3.17. The stock has a market cap of $3,980.00, a PE ratio of 53.98, a price-to-earnings-growth ratio of 1.19 and a beta of 1.33.
A number of equities research analysts recently commented on the stock. BidaskClub upgraded shares of Akorn from a “strong sell” rating to a “sell” rating in a research report on Monday, February 5th. 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 Sunday, October 22nd. Zacks Investment Research upgraded shares of Akorn from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 24th. Finally, Jefferies Group set a $34.00 price objective on shares of Akorn and gave the company a “hold” rating in a research report on Sunday, October 29th. Three investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. The company has a consensus rating of “Hold” and an average target price of $29.17.
COPYRIGHT VIOLATION WARNING: “Akorn, Inc. (AKRX) Position Raised by ARP Americas LP” was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this news story on another site, it was stolen and reposted in violation of United States & international trademark & copyright legislation. The original version of this news story can be read at https://ledgergazette.com/2018/02/19/akorn-inc-akrx-position-raised-by-arp-americas-lp.html.
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.
Want to see what other hedge funds are holding AKRX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Akorn, Inc. (NASDAQ:AKRX).
Receive News & Ratings for Akorn Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akorn and related companies with MarketBeat.com's FREE daily email newsletter.