Marshall Wace North America L.P. acquired a new stake in shares of Akorn, Inc. (NASDAQ:AKRX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 127,177 shares of the company’s stock, valued at approximately $4,324,000. Marshall Wace North America L.P. owned 0.10% of Akorn at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Treasurer State of Michigan raised its position in Akorn by 0.3% in the first quarter. State Treasurer State of Michigan now owns 35,400 shares of the company’s stock valued at $852,000 after buying an additional 100 shares during the last quarter. Public Employees Retirement Association of Colorado raised its position in Akorn by 0.8% in the second quarter. Public Employees Retirement Association of Colorado now owns 19,534 shares of the company’s stock valued at $655,000 after buying an additional 158 shares during the last quarter. Mason Street Advisors LLC raised its position in Akorn by 0.6% in the first quarter. Mason Street Advisors LLC now owns 41,143 shares of the company’s stock valued at $991,000 after buying an additional 226 shares during the last quarter. Advantus Capital Management Inc raised its position in Akorn by 2.3% in the first quarter. Advantus Capital Management Inc now owns 11,151 shares of the company’s stock valued at $269,000 after buying an additional 256 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its position in Akorn by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 22,000 shares of the company’s stock valued at $530,000 after buying an additional 300 shares during the last quarter. 69.71% of the stock is owned by institutional investors and hedge funds.

Akorn, Inc. (NASDAQ AKRX) opened at 32.83 on Thursday. The stock has a market cap of $4.10 billion, a P/E ratio of 33.16 and a beta of 1.36. Akorn, Inc. has a 52 week low of $17.61 and a 52 week high of $34.00. The company has a 50-day moving average of $33.31 and a 200-day moving average of $29.99.

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Several research analysts have recently commented on the stock. Royal Bank Of Canada set a $34.00 price objective on shares of Akorn and gave the company a “hold” rating in a research note on Saturday, May 27th. Jefferies Group LLC reissued a “hold” rating and issued a $34.00 price objective on shares of Akorn in a research note on Wednesday, July 19th. BidaskClub lowered shares of Akorn from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Piper Jaffray Companies reissued a “hold” rating and issued a $34.00 price objective on shares of Akorn in a research note on Thursday, August 10th. Finally, TheStreet lowered shares of Akorn from a “b-” rating to a “c” rating in a research note on Tuesday, August 1st. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $28.56.

In other news, Director Brian Tambi sold 5,165 shares of Akorn stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $33.37, for a total transaction of $172,356.05. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Bruce Kutinsky sold 40,000 shares of Akorn stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $33.46, for a total value of $1,338,400.00. Following the sale, the chief operating officer now directly owns 317,480 shares in the company, valued at approximately $10,622,880.80. The disclosure for this sale can be found here. 28.20% of the stock is currently owned by company 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.

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Institutional Ownership by Quarter for Akorn (NASDAQ:AKRX)

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