Gotham Asset Management LLC trimmed its position in shares of Akorn, Inc. (NASDAQ:AKRX) by 73.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,332 shares of the company’s stock after selling 69,894 shares during the period. Gotham Asset Management LLC’s holdings in Akorn were worth $816,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. State of Alaska Department of Revenue bought a new position in Akorn during the 4th quarter valued at about $199,000. Opera Trading Capital bought a new position in Akorn during the 4th quarter valued at about $274,000. ING Groep NV bought a new position in Akorn during the 4th quarter valued at about $275,000. Stone Ridge Asset Management LLC bought a new position in Akorn during the 4th quarter valued at about $290,000. Finally, MANA Advisors LLC bought a new position in Akorn during the 4th quarter valued at about $332,000. Institutional investors own 78.24% of the company’s stock.
Several brokerages recently commented on AKRX. Zacks Investment Research downgraded shares of Akorn from a “hold” rating to a “strong sell” rating in a report on Monday, March 26th. BidaskClub downgraded shares of Akorn from a “sell” rating to a “strong sell” rating in a report on Thursday, February 22nd. William Blair reiterated a “hold” rating on shares of Akorn in a report on Thursday, March 1st. Piper Jaffray set a $34.00 price target on shares of Akorn and gave the company a “hold” rating in a report on Wednesday, March 7th. Finally, Deutsche Bank set a $34.00 price objective on shares of Akorn and gave the company a “hold” rating in a research report on Thursday, February 22nd. Two equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. Akorn has an average rating of “Hold” and an average target price of $31.75.
In other Akorn news, major shareholder John N. Kapoor sold 13,629 shares of the business’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $32.67, for a total value of $445,259.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 28.20% of the stock is owned by insiders.
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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