Thrivent Financial For Lutherans cut its stake in shares of Akorn, Inc. (NASDAQ:AKRX) by 44.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 362,319 shares of the company’s stock after selling 284,330 shares during the quarter. Thrivent Financial For Lutherans owned 0.29% of Akorn worth $12,153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of AKRX. Meadow Creek Investment Management LLC raised its position in Akorn by 8.3% during the 1st quarter. Meadow Creek Investment Management LLC now owns 4,368 shares of the company’s stock valued at $105,000 after purchasing an additional 336 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Akorn by 22.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,228 shares of the company’s stock valued at $108,000 after purchasing an additional 599 shares during the last quarter. Victory Capital Management Inc. raised its position in Akorn by 17.6% during the 2nd 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 last quarter. Private Advisor Group LLC bought a new position in Akorn during the 1st quarter valued at approximately $164,000. Finally, LS Investment Advisors LLC raised its position in Akorn by 21.8% during the 1st quarter. LS Investment Advisors LLC now owns 7,850 shares of the company’s stock valued at $189,000 after purchasing an additional 1,407 shares during the last quarter. Institutional investors own 69.54% of the company’s stock.

In related news, COO Bruce Kutinsky sold 40,000 shares of the company’s stock in a transaction 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 transaction, the chief operating officer now directly owns 317,480 shares of the company’s stock, valued at approximately $10,622,880.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Brian Tambi sold 5,165 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $33.37, for a total value of $172,356.05. The disclosure for this sale can be found here. Corporate insiders own 28.20% of the company’s stock.

Shares of Akorn, Inc. (AKRX) opened at 33.14 on Friday. The firm’s 50-day moving average price is $33.00 and its 200 day moving average price is $31.44. The stock has a market capitalization of $4.14 billion, a P/E ratio of 33.47 and a beta of 1.38. Akorn, Inc. has a 52 week low of $17.61 and a 52 week high of $34.00.

AKRX has been the subject of a number of recent analyst reports. Zacks Investment Research lowered Akorn from a “hold” rating to a “strong sell” rating in a research report on Friday, August 25th. BidaskClub raised Akorn from a “hold” rating to a “buy” rating in a research report on Saturday, June 24th. Jefferies Group LLC reissued a “hold” rating and issued a $34.00 target price on shares of Akorn in a research report on Wednesday, July 19th. Piper Jaffray Companies set a $34.00 target price on Akorn and gave the stock a “hold” rating in a research report on Tuesday, August 29th. Finally, Royal Bank Of Canada set a $34.00 target price on Akorn and gave the stock a “hold” rating in a research report on Sunday, July 30th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $28.56.

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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.

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Institutional Ownership by Quarter for Akorn (NASDAQ:AKRX)

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