Federated Investors Inc. PA lowered its stake in shares of Akorn, Inc. (NASDAQ:AKRX) by 67.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,422 shares of the company’s stock after selling 28,106 shares during the period. Federated Investors Inc. PA’s holdings in Akorn were worth $223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Riverhead Capital Management LLC bought a new stake in shares of Akorn during the second quarter valued at approximately $100,000. Meadow Creek Investment Management LLC bought a new stake in Akorn in the second quarter worth $157,000. NJ State Employees Deferred Compensation Plan bought a new stake in Akorn in the second quarter worth $199,000. OppenheimerFunds Inc. increased its position in Akorn by 65.6% in the first quarter. OppenheimerFunds Inc. now owns 13,980 shares of the company’s stock worth $262,000 after purchasing an additional 5,537 shares during the last quarter. Finally, Northwestern Mutual Investment Management Company LLC increased its position in Akorn by 56.5% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 19,223 shares of the company’s stock worth $360,000 after purchasing an additional 6,938 shares during the last quarter. Hedge funds and other institutional investors own 69.81% of the company’s stock.

Shares of AKRX opened at $13.06 on Thursday. Akorn, Inc. has a fifty-two week low of $10.76 and a fifty-two week high of $33.63. The firm has a market capitalization of $1.63 billion, a P/E ratio of 8.08, a price-to-earnings-growth ratio of 1.55 and a beta of 1.92. The company has a current ratio of 3.94, a quick ratio of 2.87 and a debt-to-equity ratio of 1.13.

Akorn (NASDAQ:AKRX) last announced its quarterly earnings results on Wednesday, August 1st. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.14). The business had revenue of $190.94 million during the quarter, compared to the consensus estimate of $187.40 million. Akorn had a negative return on equity of 12.84% and a negative net margin of 24.21%. analysts anticipate that Akorn, Inc. will post 0.37 EPS for the current year.

Several equities research analysts recently weighed in on the stock. BidaskClub upgraded shares of Akorn from a “buy” rating to a “strong-buy” rating in a research report on Thursday, September 6th. Zacks Investment Research upgraded shares of Akorn from a “sell” rating to a “hold” rating in a research report on Monday, July 9th. Deutsche Bank restated a “buy” rating on shares of Akorn in a research report on Thursday, August 23rd. Finally, Royal Bank of Canada boosted their price target on shares of Akorn from $25.00 to $27.00 and gave the stock a “hold” rating in a research report on Wednesday, July 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Akorn has an average rating of “Hold” and an average price target of $26.50.

About Akorn

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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Institutional Ownership by Quarter for Akorn (NASDAQ:AKRX)

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