Akorn, Inc. (AKRX) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN trimmed its position in Akorn, Inc. (NASDAQ:AKRX) by 83.3% during the third quarter, HoldingsChannel.com reports. The firm owned 99,035 shares of the company’s stock after selling 494,082 shares during the quarter. Wells Fargo & Company MN’s holdings in Akorn were worth $3,288,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of AKRX. Legal & General Group Plc grew its stake in Akorn by 17.6% in the 3rd quarter. Legal & General Group Plc now owns 78,148 shares of the company’s stock valued at $2,594,000 after buying an additional 11,689 shares during the last quarter. FNY Partners Fund LP acquired a new position in Akorn in the 3rd quarter valued at about $371,000. Great West Life Assurance Co. Can grew its stake in Akorn by 8.6% in the 3rd quarter. Great West Life Assurance Co. Can now owns 56,302 shares of the company’s stock valued at $1,867,000 after buying an additional 4,455 shares during the last quarter. LMR Partners LLP acquired a new position in Akorn in the 3rd quarter valued at about $200,000. Finally, American International Group Inc. grew its stake in Akorn by 7.3% in the 3rd quarter. American International Group Inc. now owns 191,666 shares of the company’s stock valued at $6,361,000 after buying an additional 13,109 shares during the last quarter. 73.44% of the stock is currently owned by institutional investors.

Akorn, Inc. (NASDAQ AKRX) opened at $33.51 on Thursday. Akorn, Inc. has a 52-week low of $17.74 and a 52-week high of $34.00. The stock has a market cap of $4,190.00, a P/E ratio of 56.80, a price-to-earnings-growth ratio of 1.67 and a beta of 1.33. The company has a current ratio of 4.16, a quick ratio of 3.17 and a debt-to-equity ratio of 0.92.

A number of research analysts recently commented on AKRX shares. Zacks Investment Research upgraded shares of Akorn from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 24th. Jefferies Group set a $34.00 target price on shares of Akorn and gave the stock a “hold” rating in a research report on Sunday, October 29th. Piper Jaffray Companies set a $34.00 target price on shares of Akorn and gave the stock a “hold” rating in a research report on Sunday, October 22nd. BidaskClub lowered shares of Akorn from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 14th. Finally, Royal Bank of Canada restated a “hold” rating and set a $34.00 target price on shares of Akorn in a research report on Tuesday, October 3rd. Two equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $29.17.

In other Akorn news, Director Brian Tambi sold 15,100 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $33.35, for a total transaction of $503,585.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 28.20% of the company’s stock.

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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.

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Institutional Ownership by Quarter for Akorn (NASDAQ:AKRX)

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