Creative Planning reduced its position in shares of Akorn, Inc. (NASDAQ:AKRX) by 14.0% during the second quarter, Holdings Channel reports. The institutional investor owned 3,318 shares of the company’s stock after selling 541 shares during the period. Creative Planning’s holdings in Akorn were worth $111,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in AKRX. BlackRock Inc. increased its stake in shares of Akorn by 12,960.9% in the first quarter. BlackRock Inc. now owns 9,080,983 shares of the company’s stock worth $218,671,000 after buying an additional 9,011,455 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Akorn by 4.0% in the first quarter. Vanguard Group Inc. now owns 6,945,369 shares of the company’s stock worth $167,245,000 after buying an additional 267,203 shares during the last quarter. William Blair Investment Management LLC increased its stake in shares of Akorn by 8.0% in the first quarter. William Blair Investment Management LLC now owns 4,492,169 shares of the company’s stock worth $108,171,000 after buying an additional 333,086 shares during the last quarter. FMR LLC increased its stake in shares of Akorn by 54.0% in the first quarter. FMR LLC now owns 3,560,997 shares of the company’s stock worth $85,748,000 after buying an additional 1,249,329 shares during the last quarter. Finally, Columbia Wanger Asset Management LLC increased its stake in shares of Akorn by 127.5% in the first quarter. Columbia Wanger Asset Management LLC now owns 2,682,821 shares of the company’s stock worth $64,602,000 after buying an additional 1,503,366 shares during the last quarter. Hedge funds and other institutional investors own 71.95% of the company’s stock.

Akorn, Inc. (NASDAQ:AKRX) traded down 0.57% during trading on Thursday, reaching $33.11. The company had a trading volume of 1,847,127 shares. Akorn, Inc. has a 52-week low of $17.61 and a 52-week high of $34.00. The company has a 50 day moving average price of $33.52 and a 200 day moving average price of $29.41. The company has a market capitalization of $4.14 billion, a PE ratio of 33.44 and a beta of 1.36.

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A number of analysts have commented on the stock. TheStreet raised shares of Akorn from a “c+” rating to a “b-” rating in a research note on Thursday, April 20th. Royal Bank Of Canada set a $34.00 price objective on shares of Akorn and gave the company a “hold” rating in a research note on Saturday, May 27th. William Blair lowered shares of Akorn from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 25th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $34.00 price objective on shares of Akorn in a research note on Thursday, August 10th. Finally, Jefferies Group LLC lowered shares of Akorn from a “buy” rating to a “hold” rating and upped their price objective for the company from $24.00 to $34.00 in a research note on Tuesday, April 25th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. Akorn currently has a consensus rating of “Hold” and a consensus price target of $28.56.

In other news, Director Brian Tambi sold 5,165 shares of the stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $33.37, for a total value of $172,356.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Bruce Kutinsky sold 40,000 shares of the stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $33.46, for a total value of $1,338,400.00. Following the completion of the sale, the chief operating officer now directly owns 317,480 shares of the company’s stock, valued at approximately $10,622,880.80. The disclosure for this sale can be found here. 28.20% of the stock is owned by corporate insiders.

About Akorn

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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Institutional Ownership by Quarter for Akorn (NASDAQ:AKRX)

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