As Akorn INC (AKRX) Share Price Rose, Nine Masts Capital LTD Has Trimmed Its Stake

February 12, 2018 - By Marguerite Chambers

Chao Ku decreased its stake in Akorn Inc (AKRX) by 83.99% based on its latest 2017Q3 regulatory filing with the SEC. Nine Masts Capital Ltd sold 315,404 shares as the company’s stock rose 52.48% with the market. The hedge fund run by Chao Ku held 60,100 shares of the health care company at the end of 2017Q3, valued at $2.00 million, down from 375,504 at the end of the previous reported quarter. Nine Masts Capital Ltd who had been investing in Akorn Inc for a number of months, seems to be less bullish one the $4.00B market cap company. The stock decreased 0.53% or $0.17 during the last trading session, reaching $31.95. About 535,689 shares traded. Akorn, Inc. (NASDAQ:AKRX) has risen 12.04% since February 12, 2017 and is uptrending. It has underperformed by 4.66% the S&P500.

Another recent and important Akorn, Inc. (NASDAQ:AKRX) news was published by Nasdaq.com which published an article titled: “Commit To Purchase Akorn At $17.50, Earn 20.9% Annualized Using Options” on February 06, 2018.

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 had 36 analyst reports since July 21, 2015 according to SRatingsIntel. Deutsche Bank downgraded Akorn, Inc. (NASDAQ:AKRX) on Friday, August 5 to “Hold” rating. The stock of Akorn, Inc. (NASDAQ:AKRX) has “Hold” rating given on Monday, October 2 by RBC Capital Markets. As per Wednesday, December 2, the company rating was upgraded by Nomura. The firm has “Hold” rating given on Friday, May 26 by Jefferies. The rating was maintained by Piper Jaffray with “Hold” on Friday, October 20. On Sunday, November 5 the stock rating was maintained by RBC Capital Markets with “Hold”. The rating was initiated by Susquehanna with “Neutral” on Tuesday, July 21. The rating was downgraded by Bank of America on Monday, November 7 to “Underperform”. The rating was initiated by Goldman Sachs on Thursday, December 1 with “Sell”. Piper Jaffray maintained the stock with “Hold” rating in Friday, September 15 report.

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