Alambic Investment Management L.P. Has $362,000 Holdings in Akorn, Inc. (AKRX)

Alambic Investment Management L.P. boosted its holdings in shares of Akorn, Inc. (NASDAQ:AKRX) by 330.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 106,874 shares of the company’s stock after buying an additional 82,074 shares during the period. Alambic Investment Management L.P.’s holdings in Akorn were worth $362,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of AKRX. BlackRock Inc. increased its position in Akorn by 43.7% during the fourth quarter. BlackRock Inc. now owns 15,707,461 shares of the company’s stock worth $53,248,000 after buying an additional 4,776,900 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Akorn during the fourth quarter worth $3,522,000. Marshall Wace LLP grew its position in shares of Akorn by 44.9% in the third quarter. Marshall Wace LLP now owns 2,998,492 shares of the company’s stock valued at $38,920,000 after purchasing an additional 929,107 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Akorn by 59.2% in the third quarter. Renaissance Technologies LLC now owns 1,486,900 shares of the company’s stock valued at $19,300,000 after purchasing an additional 553,100 shares during the last quarter. Finally, BlueMountain Capital Management LLC grew its position in shares of Akorn by 46.2% in the third quarter. BlueMountain Capital Management LLC now owns 1,502,480 shares of the company’s stock valued at $19,502,000 after purchasing an additional 474,546 shares during the last quarter. 71.73% of the stock is currently owned by hedge funds and other institutional investors.

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Several equities research analysts have recently issued reports on AKRX shares. BidaskClub downgraded Akorn from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 7th. Zacks Investment Research downgraded Akorn from a “hold” rating to a “sell” rating in a research report on Tuesday, November 27th. Craig Hallum set a $11.00 price target on Akorn and gave the company a “buy” rating in a research report on Sunday, December 9th. Piper Jaffray Companies set a $9.00 target price on shares of Akorn and gave the company a “buy” rating in a research note on Tuesday, November 27th. Finally, Royal Bank of Canada set a $4.00 target price on shares of Akorn and gave the company a “hold” rating in a research note on Friday, March 1st. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $9.00.

Shares of AKRX opened at $3.65 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.47 and a quick ratio of 2.46. Akorn, Inc. has a 12 month low of $3.14 and a 12 month high of $19.81.

Akorn (NASDAQ:AKRX) last announced its quarterly earnings results on Thursday, February 28th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.28). The business had revenue of $153.39 million for the quarter, compared to the consensus estimate of $164.75 million. Akorn had a negative return on equity of 14.97% and a negative net margin of 34.69%. The firm’s revenue for the quarter was down 17.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.14 EPS. Equities analysts forecast that Akorn, Inc. will post -0.47 EPS for the current year.

In other Akorn news, EVP Joseph Bonaccorsi purchased 25,000 shares of the business’s stock in a transaction on Friday, December 14th. The stock was purchased at an average price of $4.48 per share, for a total transaction of $112,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.50% of the stock is owned by company insiders.

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About Akorn

Akorn, Inc, a specialty generic pharmaceutical company, develops, manufactures, and markets generic and branded prescription pharmaceuticals, over-the-counter (OTC) consumer health products, and animal health pharmaceuticals in the United States and internationally. The company operates in two segments, Prescription Pharmaceuticals and Consumer Health.

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