EnTrustPermal Partners Offshore LP Buys New Holdings in Akorn, Inc. (AKRX)

EnTrustPermal Partners Offshore LP bought a new position in shares of Akorn, Inc. (NASDAQ:AKRX) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 220,500 shares of the company’s stock, valued at approximately $7,107,000. Akorn comprises about 2.3% of EnTrustPermal Partners Offshore LP’s investment portfolio, making the stock its 10th largest holding.

Several other institutional investors also recently modified their holdings of AKRX. State of Alaska Department of Revenue acquired a new position in shares of Akorn during the 4th quarter worth approximately $199,000. LMR Partners LLP acquired a new position in Akorn in the third quarter valued at approximately $200,000. Opera Trading Capital acquired a new position in Akorn in the fourth quarter valued at approximately $274,000. ING Groep NV acquired a new position in Akorn in the fourth quarter valued at approximately $275,000. Finally, MANA Advisors LLC acquired a new position in Akorn in the fourth quarter valued at approximately $332,000. Institutional investors and hedge funds own 76.65% of the company’s stock.

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AKRX has been the topic of a number of recent analyst reports. Zacks Investment Research cut Akorn from a “hold” rating to a “sell” rating in a report on Wednesday, January 31st. Deutsche Bank set a $34.00 price objective on Akorn and gave the company a “hold” rating in a report on Thursday, February 22nd. BidaskClub upgraded Akorn from a “strong sell” rating to a “sell” rating in a report on Monday, February 5th. Piper Jaffray Companies set a $34.00 price objective on Akorn and gave the company a “hold” rating in a report on Wednesday. Finally, William Blair reiterated a “hold” rating on shares of Akorn in a report on Thursday, March 1st. Three analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Akorn currently has an average rating of “Hold” and a consensus price target of $30.83.

Shares of Akorn, Inc. (AKRX) opened at $18.98 on Friday. The stock has a market capitalization of $2,328.55, a P/E ratio of 11.55, a price-to-earnings-growth ratio of 0.70 and a beta of 1.78. The company has a debt-to-equity ratio of 0.98, a current ratio of 4.27 and a quick ratio of 3.19. Akorn, Inc. has a 12-month low of $16.79 and a 12-month high of $34.00.

In other Akorn news, major shareholder John N. Kapoor sold 13,629 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $32.67, for a total value of $445,259.43. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 28.20% of the stock is owned by insiders.

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Akorn 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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Institutional Ownership by Quarter for Akorn (NASDAQ:AKRX)

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