Dimensional Fund Advisors LP Increases Holdings in Akorn, Inc. (AKRX)

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Dimensional Fund Advisors LP boosted its holdings in shares of Akorn, Inc. (NASDAQ:AKRX) by 77.2% in the fourth quarter, Holdings Channel reports. The fund owned 2,648,375 shares of the company’s stock after buying an additional 1,153,675 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Akorn were worth $8,978,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in AKRX. Oregon Public Employees Retirement Fund raised its position in shares of Akorn by 228.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 121,338 shares of the company’s stock valued at $36,000 after buying an additional 84,363 shares during the last quarter. First Citizens Bank & Trust Co. acquired a new position in Akorn during the fourth quarter worth approximately $38,000. Piedmont Investment Advisors Inc. acquired a new position in Akorn during the fourth quarter worth approximately $76,000. Virtu Financial LLC acquired a new position in Akorn during the fourth quarter worth approximately $87,000. Finally, State of Alaska Department of Revenue acquired a new position in Akorn during the fourth quarter worth approximately $107,000. Institutional investors own 69.48% of the company’s stock.

Several equities research analysts have issued reports on AKRX shares. BidaskClub upgraded shares of Akorn from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 20th. Zacks Investment Research upgraded shares of Akorn from a “sell” rating to a “hold” rating in a research note on Monday, December 24th. Royal Bank of Canada set a $4.00 price objective on shares of Akorn and gave the stock a “hold” rating in a research note on Friday, March 1st. SunTrust Banks started coverage on shares of Akorn in a research note on Tuesday, March 19th. They set a “hold” rating and a $4.00 price objective for the company. Finally, Piper Jaffray Companies set a $8.00 price objective on shares of Akorn and gave the stock a “buy” rating in a research note on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. Akorn currently has a consensus rating of “Hold” and an average target price of $8.17.

Shares of AKRX stock opened at $2.99 on Tuesday. The firm has a market capitalization of $347.85 million, a PE ratio of -8.31 and a beta of 2.75. The company has a quick ratio of 2.40, a current ratio of 3.42 and a debt-to-equity ratio of 1.85. Akorn, Inc. has a twelve month low of $2.67 and a twelve month high of $19.65.

Akorn (NASDAQ:AKRX) last announced its earnings results on Thursday, February 28th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.31). The firm had revenue of $153.39 million during the quarter, compared to analysts’ expectations of $164.75 million. Akorn had a negative net margin of 57.91% and a negative return on equity of 13.34%. Akorn’s revenue for the quarter was down 17.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.14 earnings per share. On average, research analysts predict that Akorn, Inc. will post -0.28 EPS for the current year.

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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.

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Institutional Ownership by Quarter for Akorn (NASDAQ:AKRX)

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