Corebridge Financial Inc. cut its holdings in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 8.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 85,767 shares of the company's stock after selling 8,335 shares during the period. Corebridge Financial Inc. owned approximately 0.05% of Alkermes worth $2,467,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of ALKS. American Century Companies Inc. grew its holdings in Alkermes by 6.5% in the fourth quarter. American Century Companies Inc. now owns 3,450,707 shares of the company's stock valued at $99,242,000 after purchasing an additional 209,740 shares during the period. Principal Financial Group Inc. grew its stake in Alkermes by 2.5% in the 4th quarter. Principal Financial Group Inc. now owns 899,764 shares of the company's stock valued at $25,877,000 after acquiring an additional 21,821 shares during the period. Frazier Life Sciences Management L.P. purchased a new stake in Alkermes in the 3rd quarter worth $16,126,000. Rhumbline Advisers raised its position in Alkermes by 0.4% during the fourth quarter. Rhumbline Advisers now owns 464,714 shares of the company's stock worth $13,365,000 after acquiring an additional 1,683 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Alkermes during the fourth quarter valued at $12,293,000. Hedge funds and other institutional investors own 95.21% of the company's stock.
Alkermes Stock Performance
Shares of Alkermes stock traded down $1.60 during trading hours on Friday, hitting $30.06. The company's stock had a trading volume of 2,206,428 shares, compared to its average volume of 1,752,199. The firm has a fifty day moving average of $33.60 and a 200-day moving average of $30.47. The stock has a market cap of $4.95 billion, a price-to-earnings ratio of 13.85, a P/E/G ratio of 2.20 and a beta of 0.39. Alkermes plc has a twelve month low of $22.90 and a twelve month high of $36.45.
Alkermes (NASDAQ:ALKS - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.11. Alkermes had a net margin of 23.57% and a return on equity of 30.80%. On average, sell-side analysts expect that Alkermes plc will post 1.31 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Alkermes news, EVP Craig C. Hopkinson sold 144,419 shares of Alkermes stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $35.53, for a total value of $5,131,207.07. Following the completion of the transaction, the executive vice president now directly owns 57,875 shares of the company's stock, valued at $2,056,298.75. The trade was a 71.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.89% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
ALKS has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft upped their price target on shares of Alkermes from $40.00 to $52.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Royal Bank of Canada initiated coverage on Alkermes in a research note on Thursday, March 13th. They issued a "sector perform" rating and a $40.00 price objective for the company. HC Wainwright reaffirmed a "neutral" rating and set a $46.00 target price on shares of Alkermes in a research note on Thursday, February 13th. The Goldman Sachs Group upped their target price on shares of Alkermes from $30.00 to $32.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Finally, UBS Group raised shares of Alkermes from a "sell" rating to a "neutral" rating and raised their price target for the stock from $21.00 to $38.00 in a research note on Tuesday, March 4th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $39.38.
Check Out Our Latest Analysis on ALKS
Alkermes Profile
(
Free Report)
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.
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