Oak Ridge Investments LLC lessened its stake in shares of Akorn, Inc. (NASDAQ:AKRX) by 60.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 692,097 shares of the company’s stock after selling 1,037,680 shares during the period. Oak Ridge Investments LLC owned 0.55% of Akorn worth $22,971,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. OMERS ADMINISTRATION Corp acquired a new position in Akorn during the second quarter valued at approximately $31,585,000. Great West Life Assurance Co. Can grew its holdings in Akorn by 0.7% during the second quarter. Great West Life Assurance Co. Can now owns 51,847 shares of the company’s stock valued at $1,738,000 after purchasing an additional 340 shares during the last quarter. World Asset Management Inc acquired a new position in Akorn during the second quarter valued at approximately $210,000. Airain ltd grew its holdings in Akorn by 133.1% during the second quarter. Airain ltd now owns 77,070 shares of the company’s stock valued at $2,585,000 after purchasing an additional 44,011 shares during the last quarter. Finally, Alpine Associates Management Inc. acquired a new position in Akorn during the second quarter valued at approximately $8,047,000. Institutional investors own 68.67% of the company’s stock.

Several equities analysts have commented on the company. Jefferies Group LLC set a $34.00 price target on Akorn and gave the company a “hold” rating in a report on Sunday, October 29th. Zacks Investment Research upgraded Akorn from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 24th. Piper Jaffray Companies set a $34.00 price target on Akorn and gave the company a “hold” rating in a report on Sunday, October 22nd. Royal Bank Of Canada reiterated a “hold” rating and set a $34.00 price target on shares of Akorn in a report on Tuesday, October 3rd. Finally, BidaskClub downgraded Akorn from a “sell” rating to a “strong sell” rating in a report on Saturday, August 19th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $29.38.

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Akorn, Inc. (AKRX) traded up $0.07 on Thursday, hitting $33.44. The stock had a trading volume of 1,158,800 shares, compared to its average volume of 2,768,830. Akorn, Inc. has a 12 month low of $17.61 and a 12 month high of $34.00. The company has a quick ratio of 3.17, a current ratio of 4.16 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $4,173.61, a PE ratio of 20.73, a price-to-earnings-growth ratio of 1.99 and a beta of 1.33.

Akorn 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.

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Institutional Ownership by Quarter for Akorn (NASDAQ:AKRX)

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