GSA Capital Partners LLP raised its stake in shares of Akorn, Inc. (NASDAQ:AKRX) by 58.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,950 shares of the company’s stock after buying an additional 6,620 shares during the period. GSA Capital Partners LLP’s holdings in Akorn were worth $392,000 as of its most recent filing with the SEC.
Several other large investors have also bought and sold shares of the stock. First Trust Advisors LP acquired a new stake in Akorn during the third quarter valued at approximately $5,275,000. Fosun International Ltd purchased a new position in shares of Akorn during the third quarter worth about $13,368,000. Capital Fund Management S.A. increased its position in shares of Akorn by 311.0% in the third quarter. Capital Fund Management S.A. now owns 328,933 shares of the company’s stock worth $8,967,000 after buying an additional 248,906 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Akorn by 4.1% in the third quarter. Bank of New York Mellon Corp now owns 5,487,831 shares of the company’s stock worth $149,599,000 after buying an additional 218,350 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Akorn by 3,177.2% in the third quarter. PNC Financial Services Group Inc. now owns 54,598 shares of the company’s stock worth $1,488,000 after buying an additional 52,932 shares during the last quarter. Institutional investors and hedge funds own 74.75% of the company’s stock.
Akorn, Inc. (NASDAQ:AKRX) traded down 0.27% during trading on Friday, hitting $32.91. 2,292,413 shares of the company traded hands. The firm has a market cap of $4.09 billion, a price-to-earnings ratio of 22.34 and a beta of 1.12. Akorn, Inc. has a 52-week low of $17.61 and a 52-week high of $35.40. The company’s 50-day moving average is $25.55 and its 200 day moving average is $23.09.
Akorn (NASDAQ:AKRX) last announced its earnings results on Wednesday, March 1st. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.57 by $0.01. Akorn had a return on equity of 38.59% and a net margin of 16.58%. The business earned $283.70 million during the quarter, compared to the consensus estimate of $287.91 million. During the same period in the prior year, the business posted $0.60 earnings per share. Akorn’s revenue was up 1.3% compared to the same quarter last year. On average, equities analysts anticipate that Akorn, Inc. will post $1.63 earnings per share for the current year.
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AKRX has been the topic of a number of analyst reports. Zacks Investment Research downgraded shares of Akorn from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 3rd. Vetr raised shares of Akorn from a “buy” rating to a “strong-buy” rating and set a $23.96 target price on the stock in a research report on Tuesday, January 24th. Guggenheim reissued a “buy” rating and set a $40.00 target price on shares of Akorn in a research report on Thursday, December 29th. Finally, Jefferies Group LLC initiated coverage on shares of Akorn in a research report on Tuesday, January 31st. They set a “buy” rating and a $24.00 target price on the stock. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. Akorn presently has a consensus rating of “Hold” and a consensus price target of $28.83.
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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