Gardner Lewis Asset Management LP Upped Akorn INC (AKRX) Stake by $46.27 Million; Stock Price Declined

May 17, 2018 - By Ann Prendergast

Gardner Lewis Asset Management LP increased its stake in Akorn Inc. (AKRX) by 65% based on its latest 2017Q4 regulatory filing with the SEC. Gardner Lewis Asset Management LP bought 1.45M shares as the company’s stock declined 40.46% with the market. The institutional investor held 3.67M shares of the health care company at the end of 2017Q4, valued at $118.30 million, up from 2.22M at the end of the previous reported quarter. Gardner Lewis Asset Management LP who had been investing in Akorn Inc. for a number of months, seems to be bullish on the $1.76B market cap company. The stock increased 0.21% or $0.03 during the last trading session, reaching $14.07. About 834,302 shares traded. Akorn, Inc. (NASDAQ:AKRX) has declined 20.35% since May 17, 2017 and is downtrending. It has underperformed by 31.90% the S&P500.

Gardner Lewis Asset Management L P, which manages about $330.77M and $1.18 billion US Long portfolio, decreased its stake in Nxp Semiconductors Nv (NASDAQ:NXPI) by 266,575 shares to 101,970 shares, valued at $11.94 million in 2017Q4, according to the filing.

More recent Akorn, Inc. (NASDAQ:AKRX) news were published by: Seekingalpha.com which released: “Reviewing The Akorn-Fresenius Merger Fallout” on May 02, 2018. Also Seekingalpha.com published the news titled: “Akorn up 9% on hopes of Fresenius deal” on April 27, 2018. Seekingalpha.com‘s news article titled: “SA Interview: Event-Driven Investing With Donostia” with publication date: May 13, 2018 was also an interesting one.

Akorn, Inc. (NASDAQ:AKRX) Ratings Coverage

Among 6 analysts covering Akorn (NASDAQ:AKRX), 0 have Buy rating, 0 Sell and 6 Hold. Therefore 0 are positive. Akorn had 6 analyst reports since February 22, 2018 according to SRatingsIntel. The stock of Akorn, Inc. (NASDAQ:AKRX) has “Hold” rating given on Thursday, March 29 by RBC Capital Markets. The company was maintained on Monday, April 23 by Piper Jaffray. Craig Hallum maintained the stock with “Hold” rating in Monday, April 23 report. The firm has “Hold” rating by Susquehanna given on Thursday, March 15. The firm has “Hold” rating by William Blair given on Wednesday, February 28.

Akorn, Inc. (NASDAQ:AKRX) Institutional Positions Chart

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