Prudential Financial Inc. increased its stake in shares of Akorn, Inc. (NASDAQ:AKRX) by 19.0% during the first quarter, according to its most recent filing with the SEC. The fund owned 307,137 shares of the company’s stock after buying an additional 49,120 shares during the period. Prudential Financial Inc.’s holdings in Akorn were worth $7,395,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. NEXT Financial Group Inc raised its position in shares of Akorn by 990.9% in the first quarter. NEXT Financial Group Inc now owns 3,000 shares of the company’s stock valued at $100,000 after buying an additional 2,725 shares during the period. Meadow Creek Investment Management LLC raised its position in shares of Akorn by 8.3% in the first quarter. Meadow Creek Investment Management LLC now owns 4,368 shares of the company’s stock valued at $105,000 after buying an additional 336 shares during the period. Glen Harbor Capital Management LLC raised its position in shares of Akorn by 8.3% in the first quarter. Glen Harbor Capital Management LLC now owns 5,304 shares of the company’s stock valued at $128,000 after buying an additional 408 shares during the period. LS Investment Advisors LLC raised its position in shares of Akorn by 21.8% in the first quarter. LS Investment Advisors LLC now owns 7,850 shares of the company’s stock valued at $189,000 after buying an additional 1,407 shares during the period. Finally, Private Advisor Group LLC acquired a new position in shares of Akorn during the first quarter valued at about $164,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Institutional Ownership by Quarter for Akorn (NASDAQ:AKRX)

Shares of Akorn, Inc. (NASDAQ:AKRX) opened at 33.48 on Friday. The company has a market cap of $4.17 billion, a P/E ratio of 22.85 and a beta of 1.42. Akorn, Inc. has a one year low of $17.61 and a one year high of $35.40. The company’s 50-day moving average price is $33.26 and its 200 day moving average price is $25.64.

COPYRIGHT VIOLATION WARNING: This piece was published by Watch List News and is owned by of Watch List News. If you are viewing this piece on another website, it was illegally copied and reposted in violation of United States and international copyright & trademark laws. The original version of this piece can be accessed at https://www.watchlistnews.com/prudential-financial-inc-has-7-40-million-stake-in-akorn-inc-akrx/1372119.html.

AKRX has been the topic of a number of research reports. Zacks Investment Research lowered Akorn from a “hold” rating to a “sell” rating in a research report on Tuesday, February 28th. Royal Bank Of Canada set a $21.00 target price on Akorn and gave the stock a “hold” rating in a research report on Thursday, March 2nd. Jefferies Group LLC reaffirmed a “buy” rating and set a $24.00 target price on shares of Akorn in a research report on Friday, March 3rd. Vetr lowered Akorn from a “strong-buy” rating to a “buy” rating and set a $27.00 target price on the stock. in a research report on Monday, March 6th. Finally, Deutsche Bank AG lowered Akorn from a “buy” rating to a “hold” rating and lowered their target price for the stock from $28.00 to $24.00 in a research report on Monday, March 6th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company. Akorn has an average rating of “Hold” and a consensus price target of $30.55.

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.

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).

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