Rail-splitter Capital Management adds Akorn (AKRX) to its portfolio

Akorn (AKRX) : Rail-splitter Capital Management added new position in Akorn during the most recent quarter end. The investment management firm now holds 132,475 shares of Akorn which is valued at $4,373,000 , the company said in a statement filed on Aug 2, 2016 with the SEC.Akorn makes up approximately 1.01% of Rail-splitter Capital Management’s portfolio.

Other Hedge Funds, Including , Magee Thomson Investment Partners sold out all of its stake in AKRX during the most recent quarter. The investment firm sold 353,240 shares of AKRX which is valued $11,508,559.Ami Asset Management Corp reduced its stake in AKRX by selling 42,283 shares or 3.45% in the most recent quarter. The Hedge Fund company now holds 1,183,403 shares of AKRX which is valued at $38,555,270. Akorn makes up approx 2.57% of Ami Asset Management Corp’s portfolio.Independent Portfolio Consultants reduced its stake in AKRX by selling 1,320 shares or 20.63% in the most recent quarter. The Hedge Fund company now holds 5,080 shares of AKRX which is valued at $159,309. Akorn makes up approx 0.05% of Independent Portfolio Consultants’s portfolio.

Akorn closed down -0.32 points or -1.03% at $30.7 with 16,75,198 shares getting traded on Monday. Post opening the session at $30.79, the shares hit an intraday low of $30.111 and an intraday high of $31.03 and the price fluctuated in this range throughout the day.Shares ended Monday 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. 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 was Downgraded by Raymond James to ” Mkt Perform” on Aug 2, 2016.

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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