Neuberger Berman Group LLC Invests $945,000 in Akorn, Inc. (AKRX)

Neuberger Berman Group LLC purchased a new position in shares of Akorn, Inc. (NASDAQ:AKRX) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 39,234 shares of the company’s stock, valued at approximately $945,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. NEXT Financial Group Inc increased its position in shares of Akorn by 990.9% in the first quarter. NEXT Financial Group Inc now owns 3,000 shares of the company’s stock worth $100,000 after buying an additional 2,725 shares in the last quarter. Meadow Creek Investment Management LLC increased its position in shares of Akorn by 8.3% in the first quarter. Meadow Creek Investment Management LLC now owns 4,368 shares of the company’s stock worth $105,000 after buying an additional 336 shares in the last quarter. Glen Harbor Capital Management LLC increased its position in shares of Akorn by 8.3% in the first quarter. Glen Harbor Capital Management LLC now owns 5,304 shares of the company’s stock worth $128,000 after buying an additional 408 shares in the last quarter. LS Investment Advisors LLC increased its position in shares of Akorn by 21.8% in the first quarter. LS Investment Advisors LLC now owns 7,850 shares of the company’s stock worth $189,000 after buying an additional 1,407 shares in the last quarter. Finally, Private Advisor Group LLC acquired a new position in shares of Akorn during the first quarter worth about $164,000. Institutional investors own 76.94% of the company’s stock.

Institutional Ownership by Quarter for Akorn (NASDAQ:AKRX)

Akorn, Inc. (AKRX) opened at 33.53 on Friday. The company has a market capitalization of $4.18 billion, a PE ratio of 22.89 and a beta of 1.42. Akorn, Inc. has a 12-month low of $17.61 and a 12-month high of $35.40. The stock’s 50 day moving average price is $33.26 and its 200 day moving average price is $25.89.

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A number of brokerages recently issued reports on AKRX. BidaskClub upgraded Akorn from a “hold” rating to a “buy” rating in a report on Saturday. Royal Bank Of Canada set a $34.00 target price on Akorn and gave the stock a “hold” rating in a report on Saturday, May 27th. Craig Hallum downgraded Akorn from a “buy” rating to a “hold” rating in a report on Tuesday, April 25th. Zacks Investment Research upgraded Akorn from a “sell” rating to a “hold” rating in a report on Monday, May 8th. Finally, Gabelli reiterated a “hold” rating on shares of Akorn in a report on Tuesday, April 25th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $30.55.

Akorn Company 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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