California Public Employees Retirement System raised its stake in shares of Akorn, Inc. (NASDAQ:AKRX) by 1.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 271,100 shares of the company’s stock after purchasing an additional 2,600 shares during the period. California Public Employees Retirement System owned 0.22% of Akorn worth $8,998,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Akorn by 22.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,228 shares of the company’s stock worth $108,000 after acquiring an additional 599 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Akorn by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 4,177 shares of the company’s stock worth $140,000 after acquiring an additional 626 shares in the last quarter. LMR Partners LLP bought a new position in shares of Akorn in the 3rd quarter worth about $200,000. Cubist Systematic Strategies LLC bought a new position in shares of Akorn in the 2nd quarter worth about $209,000. Finally, Suntrust Banks Inc. bought a new position in shares of Akorn in the 2nd quarter worth about $234,000. 73.44% of the stock is owned by institutional investors and hedge funds.

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

Akorn, Inc. (NASDAQ AKRX) opened at $32.23 on Friday. The stock has a market capitalization of $3,982.25, a PE ratio of 32.56 and a beta of 1.33. The company has a debt-to-equity ratio of 0.92, a quick ratio of 3.17 and a current ratio of 4.16. Akorn, Inc. has a 12 month low of $17.74 and a 12 month high of $34.00.

In other Akorn news, Director Brian Tambi sold 15,100 shares of Akorn stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $33.35, for a total transaction of $503,585.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 28.20% of the stock is currently owned by insiders.

ILLEGAL ACTIVITY WARNING: “California Public Employees Retirement System Has $9 Million Position in Akorn, Inc. (AKRX)” was published by Watch List News and is owned by of Watch List News. If you are accessing this news story on another website, it was copied illegally and republished in violation of U.S. & international copyright legislation. The original version of this news story can be accessed at https://www.watchlistnews.com/california-public-employees-retirement-system-has-9-million-position-in-akorn-inc-akrx/1789284.html.

Akorn Company Profile

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.

Want to see what other hedge funds are holding AKRX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Akorn, Inc. (NASDAQ:AKRX).

Institutional Ownership by Quarter for Akorn (NASDAQ:AKRX)

Receive News & Ratings for Akorn Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akorn and related companies with MarketBeat.com's FREE daily email newsletter.