Dimensional Fund Advisors LP increased its holdings in Akorn, Inc. (NASDAQ:AKRX) by 8.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,259,328 shares of the company’s stock after acquiring an additional 97,377 shares during the period. Dimensional Fund Advisors LP owned about 1.00% of Akorn worth $20,892,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in AKRX. BlackRock Inc. lifted its stake in Akorn by 30.6% in the 2nd quarter. BlackRock Inc. now owns 10,731,745 shares of the company’s stock worth $178,040,000 after acquiring an additional 2,515,409 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in Akorn by 19,567.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 693,278 shares of the company’s stock worth $11,501,000 after acquiring an additional 689,753 shares in the last quarter. Nexthera Capital LP purchased a new stake in Akorn in the 1st quarter worth about $9,439,000. GSA Capital Partners LLP purchased a new stake in Akorn in the 2nd quarter worth about $8,104,000. Finally, State of Wisconsin Investment Board lifted its stake in Akorn by 58.2% in the 2nd quarter. State of Wisconsin Investment Board now owns 712,464 shares of the company’s stock worth $11,820,000 after acquiring an additional 262,057 shares in the last quarter. 69.81% of the stock is owned by hedge funds and other institutional investors.

Shares of AKRX stock opened at $6.20 on Friday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 2.87 and a current ratio of 3.94. Akorn, Inc. has a fifty-two week low of $5.25 and a fifty-two week high of $33.63.

Akorn (NASDAQ:AKRX) last issued its earnings results on Wednesday, August 1st. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.14). Akorn had a negative return on equity of 12.84% and a negative net margin of 24.21%. The firm had revenue of $190.94 million during the quarter, compared to analyst estimates of $187.40 million. Research analysts anticipate that Akorn, Inc. will post 0.37 earnings per share for the current fiscal year.

Several equities research analysts recently issued reports on the company. Craig Hallum raised Akorn from a “hold” rating to a “buy” rating in a research note on Thursday, October 4th. Jefferies Financial Group reduced their price objective on Akorn to $6.00 and set a “hold” rating for the company in a research note on Wednesday, October 3rd. Royal Bank of Canada set a $10.00 price objective on Akorn and gave the stock a “hold” rating in a research note on Tuesday, October 2nd. Piper Jaffray Companies set a $5.00 price objective on Akorn and gave the stock a “hold” rating in a research note on Tuesday, October 2nd. Finally, ValuEngine raised Akorn from a “sell” rating to a “hold” rating in a research report on Tuesday, October 2nd. Five analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Akorn currently has an average rating of “Buy” and an average price target of $14.17.

Akorn Company Profile

Akorn, Inc, a specialty generic pharmaceutical company, develops, manufactures, and markets generic and branded prescription pharmaceuticals, over-the-counter (OTC) consumer health products, and animal health pharmaceuticals in the United States and internationally. The company operates in two segments, Prescription Pharmaceuticals and Consumer Health.

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Institutional Ownership by Quarter for Akorn (NASDAQ:AKRX)

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