As Akorn INC (AKRX) Stock Rose, Shareholder Oak Ridge Investments LLC Boosted Its Holding

September 17, 2017 - By test

Oak Ridge Investments Llc increased its stake in Akorn Inc (AKRX) by 35.63% based on its latest 2016Q4 regulatory filing with the SEC. Oak Ridge Investments Llc bought 772,144 shares as the company’s stock rose 52.48% with the market. The institutional investor held 2.94 million shares of the health care company at the end of 2016Q4, valued at $64.16M, up from 2.17M at the end of the previous reported quarter. Oak Ridge Investments Llc who had been investing in Akorn Inc for a number of months, seems to be bullish on the $4.13B market cap company. The stock increased 0.39% or $0.13 on September 15, reaching $33.1. About 1.89M shares traded. Akorn, Inc. (NASDAQ:AKRX) has risen 12.04% since September 17, 2016 and is uptrending. It has underperformed by 4.66% the S&P500.

Oak Ridge Investments Llc, which manages about $4.04 billion and $3.09B US Long portfolio, decreased its stake in Synchronoss Technologies Inc (NASDAQ:SNCR) by 756,347 shares to 1.72M shares, valued at $65.72 million in 2016Q4, according to the filing. It also reduced its holding in Perrigo Company (NYSE:PRGO) by 38,356 shares in the quarter, leaving it with 34,239 shares, and cut its stake in Stifel Financial Corp (NYSE:SF).

More news for Akorn, Inc. (NASDAQ:AKRX) were recently published by: Seekingalpha.com, which released: “Why I’m Not Arbing The Fresenius / Akorn Deal” on August 20, 2017. Nasdaq.com‘s article titled: “Akorn, Inc. (Nasdaq: AKRX) to Ring The Nasdaq Stock Market Opening Bell” and published on September 07, 2017 is yet another important article.

Akorn, Inc. (NASDAQ:AKRX) Ratings Coverage

Among 16 analysts covering Akorn Inc (NASDAQ:AKRX), 5 have Buy rating, 2 Sell and 9 Hold. Therefore 31% are positive. Akorn Inc has $48 highest and $24 lowest target. $34.80’s average target is 5.14% above currents $33.1 stock price. Akorn Inc had 31 analyst reports since July 21, 2015 according to SRatingsIntel. On Thursday, December 1 the stock rating was initiated by Goldman Sachs with “Sell”. The firm has “Market Perform” rating by Leerink Swann given on Wednesday, March 16. Susquehanna maintained it with “Neutral” rating and $30 target in Wednesday, March 23 report. As per Monday, March 14, the company rating was maintained by JP Morgan. The company was maintained on Sunday, July 30 by RBC Capital Markets. The rating was upgraded by Nomura on Wednesday, December 2 to “Buy”. The company was maintained on Monday, July 17 by Jefferies. The firm has “Market Perform” rating given on Wednesday, March 23 by Leerink Swann. The firm has “Underperform” rating by Bank of America given on Monday, November 7. The firm has “Neutral” rating given on Tuesday, September 29 by Nomura.

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