Akorn, Inc. (AKRX) Shares Sold by JPMorgan Chase & Co.
JPMorgan Chase & Co. lessened its position in shares of Akorn, Inc. (NASDAQ:AKRX) by 28.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,070,704 shares of the company’s stock after selling 826,786 shares during the quarter. JPMorgan Chase & Co. owned 1.66% of Akorn worth $68,686,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. increased its position in Akorn by 2.4% during the second quarter. BlackRock Inc. now owns 9,297,346 shares of the company’s stock valued at $311,834,000 after acquiring an additional 216,363 shares during the last quarter. Vanguard Group Inc. increased its position in Akorn by 2.5% during the second quarter. Vanguard Group Inc. now owns 7,121,766 shares of the company’s stock valued at $238,865,000 after acquiring an additional 176,397 shares during the last quarter. FMR LLC increased its position in Akorn by 22.1% in 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 in the last quarter. Pentwater Capital Management LP purchased a new stake in Akorn in the second quarter worth about $132,148,000. Finally, CNH Partners LLC purchased a new stake in Akorn in the second quarter worth about $116,243,000. Institutional investors own 73.49% of the company’s stock.
A number of brokerages have commented on AKRX. Piper Jaffray Companies restated a “hold” rating and issued a $34.00 price target on shares of Akorn in a research report on Thursday, August 10th. Zacks Investment Research cut Akorn from a “hold” rating to a “strong sell” rating in a research report on Friday, August 25th. Royal Bank Of Canada restated a “hold” rating and issued a $34.00 price target on shares of Akorn in a research report on Tuesday, October 3rd. BidaskClub cut Akorn from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 19th. Finally, Jefferies Group set a $34.00 price target on Akorn and gave the stock a “hold” rating in a research report on Sunday, October 29th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $30.71.
Shares of Akorn, Inc. (NASDAQ:AKRX) opened at $32.69 on Thursday. 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 company has a market capitalization of $4,102.31, a PE ratio of 20.37, a price-to-earnings-growth ratio of 2.05 and a beta of 1.33. Akorn, Inc. has a 1 year low of $17.61 and a 1 year high of $34.00.
In other news, Director Brian Tambi sold 15,100 shares of the company’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $33.35, for a total value of $503,585.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 28.20% of the company’s stock.
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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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