Legal & General Group Plc boosted its position in Akorn, Inc. (NASDAQ:AKRX) by 20.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,459 shares of the company’s stock after buying an additional 11,078 shares during the quarter. Legal & General Group Plc owned 0.05% of Akorn worth $2,229,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of AKRX. BlackRock Inc. lifted its holdings in Akorn by 12,960.9% in the 1st quarter. BlackRock Inc. now owns 9,080,983 shares of the company’s stock worth $218,671,000 after buying an additional 9,011,455 shares in the last quarter. Columbia Wanger Asset Management LLC lifted its holdings in Akorn by 127.5% in the 1st quarter. Columbia Wanger Asset Management LLC now owns 2,682,821 shares of the company’s stock worth $64,602,000 after buying an additional 1,503,366 shares in the last quarter. FMR LLC lifted its holdings in Akorn by 54.0% in the 1st quarter. FMR LLC now owns 3,560,997 shares of the company’s stock worth $85,748,000 after buying an additional 1,249,329 shares in the last quarter. Fosun International Ltd lifted its holdings in Akorn by 134.5% in the 1st quarter. Fosun International Ltd now owns 2,048,869 shares of the company’s stock worth $49,336,000 after buying an additional 1,175,306 shares in the last quarter. Finally, PSquared Asset Management AG acquired a new position in Akorn in the 2nd quarter worth $23,449,000. Hedge funds and other institutional investors own 69.54% of the company’s stock.

Shares of Akorn, Inc. (NASDAQ AKRX) opened at 33.06 on Friday. Akorn, Inc. has a 52 week low of $17.61 and a 52 week high of $34.00. The firm has a market cap of $4.13 billion, a price-to-earnings ratio of 33.39 and a beta of 1.38. The stock has a 50 day moving average of $33.00 and a 200-day moving average of $31.44.

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A number of equities analysts have commented on AKRX shares. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $34.00 price objective on shares of Akorn in a report on Sunday, August 20th. TheStreet lowered shares of Akorn from a “b-” rating to a “c” rating in a report on Tuesday, August 1st. BidaskClub lowered shares of Akorn from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Jefferies Group LLC reiterated a “hold” rating and issued a $34.00 price objective on shares of Akorn in a report on Wednesday, July 19th. Finally, Piper Jaffray Companies set a $34.00 price objective on shares of Akorn and gave the stock a “hold” rating in a report on Tuesday, August 29th. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $28.56.

In other Akorn news, Director Brian Tambi sold 5,165 shares of the stock in a transaction on Friday, August 4th. The shares were sold at an average price of $33.37, for a total value of $172,356.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Bruce Kutinsky sold 40,000 shares of the stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $33.46, for a total transaction of $1,338,400.00. Following the completion of the sale, the chief operating officer now directly owns 317,480 shares of the company’s stock, valued at $10,622,880.80. The disclosure for this sale can be found here. 28.20% of the stock is owned by corporate insiders.

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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