Alps Advisors Inc. Has $2.88 Million Position in Akorn, Inc. (AKRX)
Alps Advisors Inc. increased its holdings in Akorn, Inc. (NASDAQ:AKRX) by 22.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 222,000 shares of the company’s stock after acquiring an additional 41,417 shares during the period. Alps Advisors Inc. owned about 0.18% of Akorn worth $2,882,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Riverhead Capital Management LLC acquired a new stake in shares of Akorn in the 2nd quarter worth about $100,000. Meadow Creek Investment Management LLC acquired a new stake in shares of Akorn in the 2nd quarter worth about $157,000. Glen Harbor Capital Management LLC acquired a new stake in shares of Akorn in the 2nd quarter worth about $190,000. NJ State Employees Deferred Compensation Plan acquired a new stake in shares of Akorn in the 2nd quarter worth about $199,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Akorn in the 2nd quarter worth about $211,000. Institutional investors own 69.70% of the company’s stock.
Shares of AKRX stock opened at $6.32 on Monday. Akorn, Inc. has a 52-week low of $5.25 and a 52-week high of $33.63. The company has a quick ratio of 2.87, a current ratio of 3.94 and a debt-to-equity ratio of 1.13.
A number of equities research analysts have issued reports on AKRX shares. Zacks Investment Research raised shares of Akorn from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Monday, August 27th. Piper Jaffray Companies raised shares of Akorn from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $5.00 to $9.00 in a research report on Wednesday, October 17th. BidaskClub raised shares of Akorn from a “buy” rating to a “strong-buy” rating in a research report on Thursday, September 6th. Craig Hallum raised shares of Akorn from a “hold” rating to a “buy” rating in a research report on Thursday, October 4th. Finally, Jefferies Financial Group reduced their price objective on shares of Akorn to $6.00 and set a “hold” rating for the company in a research report on Wednesday, October 3rd. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Akorn has a consensus rating of “Buy” and a consensus target price of $14.83.
Akorn, Inc, a specialty generic pharmaceutical company, develops, manufactures, and markets generic and branded prescription pharmaceuticals, over-the-counter (OTC) consumer health products, and animal health pharmaceuticals in the United States and internationally. The company operates in two segments, Prescription Pharmaceuticals and Consumer Health.
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