Mutual of America Capital Management LLC boosted its position in Akorn Inc. (NASDAQ:AKRX) by 5.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 74,204 shares of the company’s stock after buying an additional 4,045 shares during the period. Mutual of America Capital Management LLC owned approximately 0.06% of Akorn worth $2,023,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Oak Ridge Investments LLC increased its position in Akorn by 0.7% in the second quarter. Oak Ridge Investments LLC now owns 2,184,200 shares of the company’s stock worth $62,217,000 after buying an additional 14,495 shares during the period. Kornitzer Capital Management Inc. KS increased its stake in Akorn by 6.2% in the second quarter. Kornitzer Capital Management Inc. KS now owns 1,445,053 shares of the company’s stock valued at $41,162,000 after buying an additional 83,750 shares during the last quarter. Kalmar Investments Inc. DE bought a new stake in Akorn during the second quarter valued at $16,165,000. Creative Planning increased its stake in Akorn by 44.1% in the second quarter. Creative Planning now owns 4,898 shares of the company’s stock valued at $140,000 after buying an additional 1,500 shares during the last quarter. Finally, Chase Investment Counsel Corp increased its stake in Akorn by 32.0% in the second quarter. Chase Investment Counsel Corp now owns 35,105 shares of the company’s stock valued at $999,000 after buying an additional 8,510 shares during the last quarter. Hedge funds and other institutional investors own 73.61% of the company’s stock.

Institutional Ownership by Quarter for Akorn (NASDAQ:AKRX)

Shares of Akorn Inc. (NASDAQ:AKRX) traded down 3.55% during trading on Wednesday, reaching $21.22. The company had a trading volume of 1,082,961 shares. Akorn Inc. has a 1-year low of $17.57 and a 1-year high of $39.46. The company’s 50 day moving average is $24.02 and its 200-day moving average is $28.12. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of 14.36 and a beta of 1.15.

Akorn (NASDAQ:AKRX) last released its quarterly earnings results on Thursday, November 3rd. The company reported $0.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.02. Akorn had a net margin of 16.58% and a return on equity of 32.92%. The business had revenue of $284 million for the quarter, compared to analyst estimates of $267.04 million. Akorn’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, equities research analysts anticipate that Akorn Inc. will post $2.24 earnings per share for the current year.

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Several analysts recently weighed in on the company. TheStreet downgraded Akorn from a “buy” rating to a “hold” rating in a research note on Monday, November 14th. Zacks Investment Research upgraded Akorn from a “sell” rating to a “hold” rating in a research note on Monday, November 7th. Deutsche Bank AG upgraded Akorn from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research note on Monday, November 7th. WallachBeth Capital downgraded Akorn from a “buy” rating to a “hold” rating and cut their price target for the stock from $40.00 to $22.00 in a research note on Monday, November 7th. Finally, Bank of America Corp. downgraded Akorn from a “buy” rating to an “underperform” rating and set a $22.00 price target on the stock. in a research note on Monday, November 7th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Akorn currently has a consensus rating of “Hold” and an average target price of $30.47.

About Akorn

Akorn Inc, together with its subsidiaries, is a specialty 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.

5 Day Chart for NASDAQ:AKRX

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