Dimensional Fund Advisors LP boosted its holdings in shares of Akorn, Inc. (NASDAQ:AKRX) by 8.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,259,328 shares of the company’s stock after purchasing an additional 97,377 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Akorn were worth $20,892,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Kellner Capital LLC boosted its stake in Akorn by 28.5% during the 2nd quarter. Kellner Capital LLC now owns 72,200 shares of the company’s stock valued at $1,198,000 after purchasing an additional 16,000 shares during the period. Trexquant Investment LP bought a new stake in Akorn during the 2nd quarter valued at approximately $657,000. Sivik Global Healthcare LLC boosted its stake in Akorn by 11.0% during the 2nd quarter. Sivik Global Healthcare LLC now owns 100,000 shares of the company’s stock valued at $1,659,000 after purchasing an additional 9,901 shares during the period. NJ State Employees Deferred Compensation Plan bought a new stake in Akorn during the 2nd quarter valued at approximately $199,000. Finally, Quantitative Systematic Strategies LLC bought a new stake in Akorn during the 2nd quarter valued at approximately $627,000. Hedge funds and other institutional investors own 69.81% of the company’s stock.
Shares of AKRX stock opened at $6.20 on Friday. The company has a quick ratio of 2.87, a current ratio of 3.94 and a debt-to-equity ratio of 1.13. Akorn, Inc. has a 12 month low of $5.25 and a 12 month high of $33.63.
AKRX has been the subject of a number of research reports. Craig Hallum upgraded Akorn from a “hold” rating to a “buy” rating in a research report on Thursday, October 4th. BidaskClub upgraded Akorn from a “buy” rating to a “strong-buy” rating in a research report on Thursday, September 6th. Deutsche Bank reiterated a “buy” rating on shares of Akorn in a research report on Thursday, August 23rd. Zacks Investment Research upgraded 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. Finally, Piper Jaffray Companies set a $5.00 price objective on Akorn and gave the stock a “hold” rating in a research report on Tuesday, October 2nd. Five research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $14.17.
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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