Akorn, Inc. (AKRX) Shares Bought by Capital Fund Management S.A.
Capital Fund Management S.A. increased its position in shares of Akorn, Inc. (NASDAQ:AKRX) by 311.0% during the third quarter, Holdings Channel reports. The institutional investor owned 328,933 shares of the company’s stock after buying an additional 248,906 shares during the period. Capital Fund Management S.A.’s holdings in Akorn were worth $8,967,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of the stock. Capstone Asset Management Co. raised its stake in Akorn by 12.6% in the second quarter. Capstone Asset Management Co. now owns 13,960 shares of the company’s stock worth $398,000 after buying an additional 1,560 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in Akorn by 636.4% in the second quarter. Nisa Investment Advisors LLC now owns 8,100 shares of the company’s stock worth $231,000 after buying an additional 7,000 shares in the last quarter. Nordea Investment Management AB raised its stake in Akorn by 225.5% in the second quarter. Nordea Investment Management AB now owns 20,036 shares of the company’s stock worth $571,000 after buying an additional 13,881 shares in the last quarter. Acadian Asset Management LLC bought a new stake in Akorn during the second quarter worth about $334,000. Finally, IBM Retirement Fund bought a new stake in Akorn during the second quarter worth about $241,000. 73.47% of the stock is currently owned by institutional investors.
Akorn, Inc. (NASDAQ:AKRX) opened at 21.76 on Friday. The firm has a 50 day moving average price of $21.07 and a 200 day moving average price of $26.35. Akorn, Inc. has a 52 week low of $17.57 and a 52 week high of $35.40. The stock has a market capitalization of $2.73 billion, a P/E ratio of 14.72 and a beta of 1.12.
Akorn (NASDAQ:AKRX) last released its quarterly earnings results on Thursday, November 3rd. The company reported $0.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.02. Akorn had a return on equity of 38.59% and a net margin of 16.58%. The business had revenue of $284 million for the quarter, compared to analysts’ expectations of $267.04 million. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. Equities research analysts predict that Akorn, Inc. will post $2.24 earnings per share for the current year.
AKRX has been the topic of a number of analyst reports. Piper Jaffray Companies raised Akorn from a “neutral” rating to an “overweight” rating and increased their price target for the company from $33.00 to $34.00 in a research report on Thursday, September 15th. Zacks Investment Research lowered Akorn from a “hold” rating to a “sell” rating in a research report on Friday, October 21st. RBC Capital Markets lowered Akorn from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $37.00 to $24.00 in a research report on Friday, November 4th. Royal Bank Of Canada lowered Akorn from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $37.00 to $24.00 in a research report on Friday, November 4th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $24.00 price target (down previously from $35.00) on shares of Akorn in a research report on Friday, November 4th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. Akorn has a consensus rating of “Hold” and an average price target of $29.47.
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.
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