FNY Partners Fund LP Invests $371,000 in Akorn, Inc. (AKRX)
FNY Partners Fund LP bought a new position in Akorn, Inc. (NASDAQ:AKRX) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 11,190 shares of the company’s stock, valued at approximately $371,000.
Other large investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Akorn by 22.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,228 shares of the company’s stock worth $108,000 after buying an additional 599 shares in the last quarter. Victory Capital Management Inc. raised its position in Akorn by 17.6% during the second quarter. Victory Capital Management Inc. now owns 4,177 shares of the company’s stock valued at $140,000 after purchasing an additional 626 shares during the period. LMR Partners LLP purchased a new stake in Akorn during the third quarter valued at approximately $200,000. Cubist Systematic Strategies LLC purchased a new stake in Akorn during the second quarter valued at approximately $209,000. Finally, World Asset Management Inc purchased a new stake in Akorn during the second quarter valued at approximately $210,000. Institutional investors own 73.44% of the company’s stock.
Shares of Akorn, Inc. (AKRX) opened at $32.64 on Tuesday. The company has a quick ratio of 3.17, a current ratio of 4.16 and a debt-to-equity ratio of 0.92. Akorn, Inc. has a fifty-two week low of $17.61 and a fifty-two week high of $34.00. The firm has a market capitalization of $4,078.55, a P/E ratio of 20.25, a PEG ratio of 1.94 and a beta of 1.33.
In other news, Director Brian Tambi sold 15,100 shares of the stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $33.35, for a total value of $503,585.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 28.20% of the company’s stock.
A number of equities research analysts have issued reports on the company. Piper Jaffray Companies restated a “hold” rating and set a $34.00 price objective on shares of Akorn in a research report on Thursday, August 10th. TheStreet downgraded Akorn from a “b-” rating to a “c” rating in a research report on Tuesday, August 1st. BidaskClub downgraded Akorn from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Royal Bank Of Canada restated a “sector perform” rating and set a $34.00 price objective on shares of Akorn in a research report on Sunday, August 20th. Finally, Zacks Investment Research upgraded Akorn from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 24th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. Akorn currently has an average rating of “Hold” and an average price target of $29.38.
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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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