Akorn (AKRX) Stake Lessened by TIAA CREF Investment Management LLC

TIAA CREF Investment Management LLC lessened its stake in Akorn (NASDAQ:AKRX) by 7.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 213,403 shares of the company’s stock after selling 16,664 shares during the quarter. TIAA CREF Investment Management LLC owned approximately 0.17% of Akorn worth $6,878,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. LS Investment Advisors LLC grew its position in shares of Akorn by 24.0% during the 4th quarter. LS Investment Advisors LLC now owns 12,650 shares of the company’s stock valued at $408,000 after buying an additional 2,445 shares during the last quarter. American International Group Inc. grew its position in shares of Akorn by 1.3% during the 4th quarter. American International Group Inc. now owns 194,234 shares of the company’s stock valued at $6,260,000 after buying an additional 2,568 shares during the last quarter. California Public Employees Retirement System grew its position in shares of Akorn by 1.0% during the 3rd quarter. California Public Employees Retirement System now owns 271,100 shares of the company’s stock valued at $8,998,000 after buying an additional 2,600 shares during the last quarter. Teachers Advisors LLC grew its position in shares of Akorn by 2.4% during the 4th quarter. Teachers Advisors LLC now owns 158,102 shares of the company’s stock valued at $5,096,000 after buying an additional 3,743 shares during the last quarter. Finally, UBS Asset Management Americas Inc. grew its position in shares of Akorn by 5.0% during the 4th quarter. UBS Asset Management Americas Inc. now owns 78,512 shares of the company’s stock valued at $2,530,000 after buying an additional 3,745 shares during the last quarter. Institutional investors and hedge funds own 78.24% of the company’s stock.

NASDAQ AKRX opened at $18.43 on Friday. Akorn has a 52 week low of $16.79 and a 52 week high of $34.00. The company has a quick ratio of 3.19, a current ratio of 4.27 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $2,282.20, a price-to-earnings ratio of 8.49, a PEG ratio of 0.84 and a beta of 1.69.



AKRX has been the subject of a number of recent research reports. Piper Jaffray set a $34.00 price objective on shares of Akorn and gave the company a “hold” rating in a research report on Wednesday, March 7th. William Blair restated a “hold” rating on shares of Akorn in a research report on Thursday, March 1st. Royal Bank of Canada set a $25.00 target price on shares of Akorn and gave the stock a “hold” rating in a research report on Thursday, March 29th. Deutsche Bank set a $34.00 target price on shares of Akorn and gave the stock a “hold” rating in a research report on Thursday, February 22nd. Finally, BidaskClub upgraded shares of Akorn from a “strong sell” rating to a “sell” rating in a research report on Thursday, January 11th. Two investment analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $31.75.

In other Akorn news, major shareholder John N. Kapoor sold 13,629 shares of the company’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $32.67, for a total value of $445,259.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 28.20% of the stock is currently owned by corporate insiders.

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Akorn Profile

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.

Institutional Ownership by Quarter for Akorn (NASDAQ:AKRX)

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