Simplex Trading adds Akorn (AKRX) to its portfolio

Akorn (AKRX) : Simplex Trading added new position in Akorn during the most recent quarter end. The investment management firm now holds 11,019 shares of Akorn which is valued at $298,725 , the company said in a statement filed on Oct 7, 2016 with the SEC.Akorn makes up approximately 0.04% of Simplex Trading’s portfolio.

Other Hedge Funds, Including , Independent Portfolio Consultants reduced its stake in AKRX by selling 190 shares or 3.74% in the most recent quarter. The Hedge Fund company now holds 4,890 shares of AKRX which is valued at $136,480. Akorn makes up approx 0.04% of Independent Portfolio Consultants’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in AKRX by selling 478,595 shares or 98.33% in the most recent quarter. The Hedge Fund company now holds 8,134 shares of AKRX which is valued at $227,020. Washington Trust Bank added AKRX to its portfolio by purchasing 80 company shares during the most recent quarter which is valued at $2,233.

Akorn closed down -0.21 points or -0.77% at $27.11 with 6,37,495 shares getting traded on Friday. Post opening the session at $27.44, the shares hit an intraday low of $26.81 and an intraday high of $27.46 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Akorn reported $0.58 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.56. The company had revenue of $280.73 million for the quarter, compared to analysts expectations of $272.99 million. The company’s revenue was up 27.1% compared to the same quarter last year.

Many Wall Street Analysts have commented on Akorn. Akorn was Upgraded by Piper Jaffray to ” Overweight” on Sep 15, 2016. Company shares were Reiterated by WallachBeth on Aug 5, 2016 to “Buy”, Firm has raised the Price Target to $ 40 from a previous price target of $39 .

Akorn Inc. (Akorn) together with its wholly owned subsidiaries is a specialty pharmaceutical company that develops manufactures and markets generic and branded prescription pharmaceuticals as well as animal and over-the-counter (OTC) consumer health products. The Company specializes in sterile and non-sterile dosage forms including ophthalmics injectables oral liquids otics topicals inhalants and nasal sprays. The Company operates in two segments: Prescription Pharmaceuticals which is engaged in the sale of branded and generic prescription pharmaceuticals and Consumer Health which is engaged in the sale of branded and private label consumer and animal health products. The Company operates pharmaceutical manufacturing facilities in Decatur Illinois; Somerset New Jersey; Amityville New York and Paonta Sahib Himachal Pradesh India as well as a central distribution warehouse in Gurnee Illinois and an additional warehousing facility in Amityville New York.

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