Legal & General Group Plc Acquires 29429 Shares of Akorn, Inc. (NASDAQ:AKRX)

Cornelia Mascio
Agosto 20, 2017

Akorn, Inc. (NASDAQ:AKRX) belongs to Healthcare sector, and it has 20 days moving average price of -2.64% from last close price of 32.60 and act as support or resistance of price limit. Pitcairn Co.'s holdings in Akorn were worth $205,000 as of its most recent SEC filing. Acadian Asset Management LLC now owns 220,796 shares of the company's stock worth $5,316,000 after buying an additional 36,607 shares during the period.

Several other large investors have also made changes to their positions in AKRX.

Investors sold shares of Akorn, Inc. Meadow Creek Investment Management LLC raised its position in shares of Akorn by 8.3% in the first quarter. (NASDAQ:AKRX) by 4.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The Manufacturers Life Insurance Company now owns 129,137 shares of the company's stock valued at $4,331,000 after buying an additional 2,107 shares during the period. (NASDAQ:AKRX) are experiencing unusual volume during today's trading. The company has market cap of $4.09 billion. The company's 50 day moving average price is $33.45 and its 200-day moving average price is $29.53. As of quarter end Proficio Capital Partners LLC had disposed of 4 shares trimming its position 9.1%. The fund owned 133,977 shares of the company's stock after buying an additional 5,447 shares during the period. River Road Asset Management LLC now owns 826,231 shares of the company's stock worth $19,896,000 after buying an additional 36,710 shares during the period. Akorn, Inc. (NASDAQ:AKRX) has risen 12.04% since August 17, 2016 and is uptrending.

COPYRIGHT VIOLATION NOTICE: This piece was published by BBNS and is the sole property of of BBNS. If you are viewing this piece on another domain, it was illegally copied and reposted in violation of United States & worldwide copyright law. The correct version of this news story can be accessed at https://www.chaffeybreeze.com/2017/08/17/akorn-inc-akrx-stake-boosted-by-alps-advisors-inc.html. Finally, BidaskClub upgraded Akorn from a "hold" rating to a "buy" rating in a research report on Saturday, June 24th. On Tuesday, August 2 the stock rating was downgraded by Raymond James to "Market Perform". Piper Jaffray Companies cut shares of Akorn from an "overweight" rating to a "neutral" rating and raised their target price for the stock from $29.00 to $34.00 in a research report on Tuesday, April 25th. Finally, 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. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company's stock. The company now has a consensus rating of "Hold" and a consensus price target of $28.56. Also, Director Brian Tambi sold 5,165 shares of the firm's stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $33.46, for a total transaction of $1,338,400.00. The shares were purchased at an average price of $33.46. Bruce Kutinsky, Chief Operating Officer disclosed the sale of 40,000 shares of (AKRX). Following the transaction, the chief operating officer now directly owns 317,480 shares in the company, valued at approximately $10,622,880.80. The disclosure for this sale can be found here.

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 Firm operates through two divisions: Prescription Pharmaceuticals and the Consumer Health.

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