Stevens Capital Management LP purchased a new position in shares of Akorn, Inc. (NASDAQ:AKRX) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 71,385 shares of the company’s stock, valued at approximately $927,000. Stevens Capital Management LP owned about 0.06% of Akorn at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. ING Groep NV increased its holdings in shares of Akorn by 23.5% during the 2nd quarter. ING Groep NV now owns 14,390 shares of the company’s stock valued at $239,000 after purchasing an additional 2,734 shares in the last quarter. Voya Investment Management LLC increased its holdings in shares of Akorn by 8.8% during the 2nd quarter. Voya Investment Management LLC now owns 34,868 shares of the company’s stock valued at $578,000 after purchasing an additional 2,818 shares in the last quarter. Mutual of America Capital Management LLC increased its holdings in shares of Akorn by 4.3% during the 2nd quarter. Mutual of America Capital Management LLC now owns 80,620 shares of the company’s stock valued at $1,337,000 after purchasing an additional 3,299 shares in the last quarter. Riverhead Capital Management LLC purchased a new position in shares of Akorn during the 2nd quarter valued at approximately $100,000. Finally, Meadow Creek Investment Management LLC purchased a new position in shares of Akorn during the 2nd quarter valued at approximately $157,000. 65.00% of the stock is owned by institutional investors.

Several research firms have recently weighed in on AKRX. Deutsche Bank reaffirmed a “buy” rating on shares of Akorn in a report on Thursday, August 23rd. BidaskClub raised shares of Akorn from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 6th. Zacks Investment Research raised shares of Akorn from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a report on Monday, August 27th. Piper Jaffray Companies set a $9.00 target price on shares of Akorn and gave the company a “buy” rating in a report on Tuesday, November 27th. Finally, Royal Bank of Canada set a $9.00 price target on shares of Akorn and gave the company a “hold” rating in a research note on Wednesday, November 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $14.67.

Akorn stock opened at $4.26 on Friday. Akorn, Inc. has a 1 year low of $3.54 and a 1 year high of $33.63. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.47 and a quick ratio of 2.46.

Akorn (NASDAQ:AKRX) last released its quarterly earnings results on Tuesday, November 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.17). Akorn had a negative net margin of 34.69% and a negative return on equity of 14.97%. The company had revenue of $165.63 million during the quarter, compared to analyst estimates of $185.36 million. On average, analysts predict that Akorn, Inc. will post -0.13 earnings per share for the current fiscal year.

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Akorn Profile

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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