Akorn, Inc. (AKRX) Position Raised by ARP Americas LP

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.

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Akorn 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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Institutional Ownership by Quarter for Akorn (NASDAQ:AKRX)

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