The 1,184,500 Shares in Akorn Inc. (AKRX) Acquired by Ardsley Advisory Partners

The 1,184,500 Shares in Akorn Inc. (AKRX) Acquired by Ardsley Advisory Partners

Ardsley Advisory Partners bought a new position in Akorn Inc. (NASDAQ:AKRX) during the third quarter, according to its most recent filing with the SEC. The firm bought 1,184,500 shares of the company’s stock, valued at approximately $32,289,000. Akorn comprises 5.1% of Ardsley Advisory Partners’ portfolio, making the stock its largest position. Ardsley Advisory Partners owned 0.95% of Akorn as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in AKRX. State of Wisconsin Investment Board increased its position in Akorn by 0.4% in the second quarter. State of Wisconsin Investment Board now owns 54,610 shares of the company’s stock worth $1,556,000 after buying an additional 200 shares in the last quarter. Argent Capital Management LLC boosted its stake in shares of Akorn by 0.8% in the second quarter. Argent Capital Management LLC now owns 47,650 shares of the company’s stock worth $1,357,000 after buying an additional 400 shares during the last quarter. Profund Advisors LLC boosted its stake in shares of Akorn by 3.4% in the second quarter. Profund Advisors LLC now owns 12,858 shares of the company’s stock worth $366,000 after buying an additional 418 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Akorn by 5.0% in the second quarter. Legal & General Group Plc now owns 10,194 shares of the company’s stock worth $290,000 after buying an additional 489 shares during the last quarter. Finally, New York State Teachers Retirement System boosted its stake in shares of Akorn by 0.4% in the second quarter. New York State Teachers Retirement System now owns 137,000 shares of the company’s stock worth $3,902,000 after buying an additional 500 shares during the last quarter. 73.47% of the stock is owned by hedge funds and other institutional investors.

Shares of Akorn Inc. (NASDAQ:AKRX) opened at 20.87 on Thursday. Akorn Inc. has a 52-week low of $17.57 and a 52-week high of $35.40. The company’s 50 day moving average is $21.04 and its 200 day moving average is $25.99. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of 14.12 and a beta of 1.12.

Akorn (NASDAQ:AKRX) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.54 by $0.02. The business had revenue of $284 million for the quarter, compared to analyst estimates of $267.04 million. Akorn had a net margin of 16.58% and a return on equity of 38.59%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. Analysts anticipate that Akorn Inc. will post $2.24 earnings per share for the current year.

AKRX has been the topic of a number of research analyst reports. Vetr cut shares of Akorn from a “buy” rating to a “hold” rating and set a $22.55 target price on the stock. in a report on Monday, January 2nd. Goldman Sachs Group Inc. initiated coverage on shares of Akorn in a report on Thursday, December 1st. They issued a “sell” rating and a $20.00 target price on the stock. Zacks Investment Research raised shares of Akorn from a “sell” rating to a “hold” rating in a report on Monday, January 9th. TheStreet cut shares of Akorn from a “buy” rating to a “hold” rating in a report on Monday, November 14th. Finally, RBC Capital Markets cut shares of Akorn from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $37.00 to $24.00 in a report on Friday, November 4th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $29.47.

About Akorn

Akorn Inc, together with its subsidiaries, is a specialty 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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