Rhumbline Advisers lifted its position in Akorn, Inc. (NASDAQ:AKRX) by 12.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 261,271 shares of the company’s stock after buying an additional 28,191 shares during the quarter. Rhumbline Advisers owned about 0.21% of Akorn worth $8,672,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Akorn by 22.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,228 shares of the company’s stock valued at $108,000 after buying an additional 599 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Akorn by 17.6% in the second quarter. Victory Capital Management Inc. now owns 4,177 shares of the company’s stock valued at $140,000 after buying an additional 626 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Akorn in the second quarter valued at $209,000. World Asset Management Inc bought a new position in shares of Akorn in the second quarter valued at $210,000. Finally, Suntrust Banks Inc. bought a new position in shares of Akorn in the second quarter valued at $234,000. 73.44% of the stock is owned by institutional investors and hedge funds.

In other news, Director Brian Tambi sold 15,100 shares of Akorn stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $33.35, for a total transaction of $503,585.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 28.20% of the stock is currently owned by company insiders.

Shares of Akorn, Inc. (NASDAQ:AKRX) opened at $32.64 on Tuesday. Akorn, Inc. has a twelve month low of $17.61 and a twelve month high of $34.00. The company has a current ratio of 4.16, a quick ratio of 3.17 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $4,078.55, a price-to-earnings ratio of 20.25, a PEG ratio of 1.94 and a beta of 1.33.

A number of equities analysts have commented on AKRX shares. BidaskClub cut shares of Akorn from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 19th. Piper Jaffray Companies set a $34.00 price objective on shares of Akorn and gave the stock a “hold” rating in a research report on Tuesday, August 29th. Zacks Investment Research cut shares of Akorn from a “hold” rating to a “strong sell” rating in a research report on Friday, August 25th. Jefferies Group LLC set a $34.00 price objective on shares of Akorn and gave the stock a “hold” rating in a research report on Sunday, October 29th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $34.00 price objective on shares of Akorn in a research report on Tuesday, October 3rd. Three 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. The stock currently has a consensus rating of “Hold” and a consensus target price of $29.38.

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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.

Institutional Ownership by Quarter for Akorn (NASDAQ:AKRX)

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