Clough Capital Partners L P Boosts Position in Akorn, Inc. (AKRX)

Clough Capital Partners L P boosted its stake in shares of Akorn, Inc. (NASDAQ:AKRX) by 70.9% during the first quarter, according to its most recent filing with the SEC. The firm owned 485,371 shares of the company’s stock after buying an additional 201,400 shares during the period. Clough Capital Partners L P owned about 0.39% of Akorn worth $11,688,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. NEXT Financial Group Inc boosted its stake in Akorn by 990.9% in the first quarter. NEXT Financial Group Inc now owns 3,000 shares of the company’s stock valued at $100,000 after buying an additional 2,725 shares during the last quarter. Meadow Creek Investment Management LLC boosted its stake in Akorn by 8.3% in the first quarter. Meadow Creek Investment Management LLC now owns 4,368 shares of the company’s stock valued at $105,000 after buying an additional 336 shares during the last quarter. Glen Harbor Capital Management LLC boosted its stake in Akorn by 8.3% in the first quarter. Glen Harbor Capital Management LLC now owns 5,304 shares of the company’s stock valued at $128,000 after buying an additional 408 shares during the last quarter. Private Advisor Group LLC purchased a new stake in Akorn during the first quarter valued at $164,000. Finally, LS Investment Advisors LLC boosted its stake in Akorn by 21.8% in the first quarter. LS Investment Advisors LLC now owns 7,850 shares of the company’s stock valued at $189,000 after buying an additional 1,407 shares during the last quarter. 76.94% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Akorn (NASDAQ:AKRX)

Shares of Akorn, Inc. (NASDAQ AKRX) traded down 0.12% during mid-day trading on Tuesday, hitting $33.41. The stock had a trading volume of 1,129,667 shares. The stock has a market cap of $4.16 billion, a P/E ratio of 22.81 and a beta of 1.42. Akorn, Inc. has a 52-week low of $17.61 and a 52-week high of $35.40. The company’s 50 day moving average is $33.26 and its 200-day moving average is $25.79.

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Several analysts have weighed in on the company. TheStreet raised Akorn from a “c+” rating to a “b-” rating in a research report on Thursday, April 20th. Royal Bank Of Canada set a $34.00 price objective on Akorn and gave the company a “hold” rating in a research report on Saturday, May 27th. William Blair cut Akorn from an “outperform” rating to a “market perform” rating in a research report on Tuesday, April 25th. Vetr cut Akorn from a “strong-buy” rating to a “buy” rating and set a $27.00 price objective on the stock. in a research report on Monday, March 6th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $24.00 price objective on shares of Akorn in a research report on Friday, March 3rd. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the stock. Akorn presently has an average rating of “Hold” and an average price target of $30.55.

About Akorn

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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