Alliancebernstein L.P. Sells 317,965 Shares of Alkermes plc (NASDAQ:ALKS)

Alliancebernstein L.P. cut its stake in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 44.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 391,166 shares of the company's stock after selling 317,965 shares during the period. Alliancebernstein L.P. owned 0.24% of Alkermes worth $11,250,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Verition Fund Management LLC lifted its stake in Alkermes by 68.2% in the 3rd quarter. Verition Fund Management LLC now owns 14,455 shares of the company's stock worth $405,000 after purchasing an additional 5,863 shares in the last quarter. XTX Topco Ltd purchased a new position in Alkermes during the third quarter worth about $437,000. Orion Portfolio Solutions LLC purchased a new stake in shares of Alkermes in the 3rd quarter valued at about $264,000. Barclays PLC boosted its position in shares of Alkermes by 108.8% during the 3rd quarter. Barclays PLC now owns 423,931 shares of the company's stock valued at $11,867,000 after acquiring an additional 220,893 shares during the last quarter. Finally, Hohimer Wealth Management LLC purchased a new position in shares of Alkermes during the third quarter worth about $315,000. 95.21% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Craig C. Hopkinson sold 100,918 shares of the company's stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $32.05, for a total value of $3,234,421.90. Following the transaction, the executive vice president now owns 44,290 shares in the company, valued at $1,419,494.50. The trade was a 69.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 4.89% of the company's stock.

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Alkermes Trading Up 0.5 %

Shares of ALKS stock traded up $0.13 during midday trading on Tuesday, reaching $27.67. 241,323 shares of the stock were exchanged, compared to its average volume of 1,750,785. The firm has a market cap of $4.56 billion, a PE ratio of 12.72, a price-to-earnings-growth ratio of 2.20 and a beta of 0.39. The company's 50 day moving average is $33.06 and its two-hundred day moving average is $30.47. Alkermes plc has a 1 year low of $22.90 and a 1 year high of $36.45.

Alkermes (NASDAQ:ALKS - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.81 by $0.11. Alkermes had a return on equity of 30.80% and a net margin of 23.57%. As a group, equities analysts expect that Alkermes plc will post 1.31 EPS for the current fiscal year.

Analyst Ratings Changes

ALKS has been the topic of several research reports. UBS Group upgraded shares of Alkermes from a "sell" rating to a "neutral" rating and raised their price objective for the company from $21.00 to $38.00 in a research report on Tuesday, March 4th. HC Wainwright reissued a "neutral" rating and set a $46.00 price objective on shares of Alkermes in a report on Thursday, February 13th. StockNews.com upgraded shares of Alkermes from a "buy" rating to a "strong-buy" rating in a research report on Thursday, February 13th. The Goldman Sachs Group upped their price target on shares of Alkermes from $30.00 to $32.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Finally, Royal Bank of Canada began coverage on Alkermes in a research report on Thursday, March 13th. They set a "sector perform" rating and a $40.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Alkermes has a consensus rating of "Moderate Buy" and an average price target of $38.50.

Alkermes Company Profile

Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in therapeutic areas in the United States, Ireland, and internationally. It has a portfolio of proprietary commercial products for the treatment of alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder and a pipeline of clinical and preclinical product candidates in development for neurological disorders.