Cowen Inc. trimmed its position in Akorn, Inc. (NASDAQ:AKRX) by 85.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,399 shares of the company’s stock after selling 874,968 shares during the period. Cowen Inc. owned approximately 0.12% of Akorn worth $4,826,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Akorn by 22.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,228 shares of the company’s stock worth $108,000 after purchasing an additional 599 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Akorn by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 4,177 shares of the company’s stock worth $140,000 after purchasing an additional 626 shares in the last quarter. LMR Partners LLP bought a new stake in Akorn during the 3rd quarter worth approximately $200,000. Cubist Systematic Strategies LLC bought a new stake in Akorn during the 2nd quarter worth approximately $209,000. Finally, World Asset Management Inc bought a new stake in Akorn during the 2nd quarter worth approximately $210,000. 73.49% of the stock is owned by institutional investors and hedge funds.

In other news, Director Brian Tambi sold 15,100 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $33.35, for a total value of $503,585.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 28.20% of the stock is owned by insiders.

Akorn, Inc. (NASDAQ AKRX) opened at $32.49 on Friday. Akorn, Inc. has a 12 month low of $17.74 and a 12 month high of $34.00. The firm has a market capitalization of $4,060.00, a P/E ratio of 20.37, a PEG ratio of 2.05 and a beta of 1.33. The company has a quick ratio of 3.17, a current ratio of 4.16 and a debt-to-equity ratio of 0.92.

A number of analysts have commented on the company. Piper Jaffray Companies reissued a “hold” rating and set a $34.00 price objective on shares of Akorn in a report on Thursday, August 10th. Zacks Investment Research lowered Akorn from a “hold” rating to a “strong sell” rating in a report on Friday, August 25th. Royal Bank Of Canada restated a “hold” rating and issued a $34.00 target price on shares of Akorn in a research note on Tuesday, October 3rd. BidaskClub downgraded Akorn from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 19th. Finally, Jefferies Group set a $34.00 target price on Akorn and gave the stock a “hold” rating in a research note on Sunday, October 29th. Two investment 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’s stock. The company has a consensus rating of “Hold” and a consensus price target of $30.71.

COPYRIGHT VIOLATION NOTICE: “Akorn, Inc. (AKRX) Shares Sold by Cowen Inc.” was first posted by TheOlympiaReport and is owned by of TheOlympiaReport. If you are viewing this article on another website, it was copied illegally and reposted in violation of United States and international copyright laws. The correct version of this article can be accessed at https://theolympiareport.com/2017/12/08/akorn-inc-akrx-shares-sold-by-cowen-inc.html.

Akorn Company 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.

Institutional Ownership by Quarter for Akorn (NASDAQ:AKRX)

Receive News & Ratings for Akorn Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akorn Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.