BlackRock Inc. lifted its stake in shares of Akorn, Inc. (NASDAQ:AKRX) by 2.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,958,348 shares of the company’s stock after purchasing an additional 215,686 shares during the quarter. BlackRock Inc. owned about 6.36% of Akorn worth $256,496,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in AKRX. Nationwide Fund Advisors increased its position in Akorn by 6.3% in the 3rd quarter. Nationwide Fund Advisors now owns 157,993 shares of the company’s stock valued at $5,244,000 after acquiring an additional 9,370 shares during the period. Aperio Group LLC increased its position in Akorn by 12.4% in the 3rd quarter. Aperio Group LLC now owns 27,867 shares of the company’s stock valued at $925,000 after acquiring an additional 3,076 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in Akorn in the 3rd quarter valued at approximately $597,000. Canada Pension Plan Investment Board increased its position in Akorn by 47.5% in the 3rd quarter. Canada Pension Plan Investment Board now owns 205,000 shares of the company’s stock valued at $6,804,000 after acquiring an additional 66,000 shares during the period. Finally, State of Wisconsin Investment Board increased its position in Akorn by 136.1% in the 3rd quarter. State of Wisconsin Investment Board now owns 454,239 shares of the company’s stock valued at $15,076,000 after acquiring an additional 261,886 shares during the period. Institutional investors and hedge funds own 77.52% of the company’s stock.
Akorn, Inc. (NASDAQ AKRX) opened at $18.97 on Tuesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 3.19 and a current ratio of 4.27. The stock has a market capitalization of $2,370.00, a price-to-earnings ratio of -46.27, a price-to-earnings-growth ratio of 0.71 and a beta of 1.77. Akorn, Inc. has a one year low of $16.79 and a one year high of $34.00.
In other Akorn news, major shareholder John N. Kapoor sold 13,629 shares of the stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $32.67, for a total transaction of $445,259.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 28.20% of the company’s stock.
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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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