Massachusetts Financial Services Co. MA Sells 10,123 Shares of Alkermes plc (NASDAQ:ALKS)

Massachusetts Financial Services Co. MA cut its stake in Alkermes plc (NASDAQ:ALKS - Free Report) by 18.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,398 shares of the company's stock after selling 10,123 shares during the period. Massachusetts Financial Services Co. MA's holdings in Alkermes were worth $1,248,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ALKS. O Shaughnessy Asset Management LLC grew its holdings in Alkermes by 3.9% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 14,203 shares of the company's stock worth $408,000 after acquiring an additional 532 shares during the period. Orion Portfolio Solutions LLC grew its stake in shares of Alkermes by 12.0% in the 4th quarter. Orion Portfolio Solutions LLC now owns 10,577 shares of the company's stock worth $304,000 after purchasing an additional 1,133 shares during the last quarter. Norges Bank bought a new stake in shares of Alkermes in the 4th quarter worth approximately $56,684,000. Loomis Sayles & Co. L P lifted its stake in Alkermes by 22.3% during the fourth quarter. Loomis Sayles & Co. L P now owns 2,302,905 shares of the company's stock valued at $66,232,000 after purchasing an additional 419,969 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Alkermes by 147.4% during the fourth quarter. JPMorgan Chase & Co. now owns 889,472 shares of the company's stock worth $25,581,000 after buying an additional 529,962 shares in the last quarter. Institutional investors and hedge funds own 95.21% of the company's stock.

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Insider Buying and Selling at Alkermes

In other 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 transaction, the executive vice president now directly owns 57,875 shares in the company, valued at approximately $2,056,298.75. The trade was a 71.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.89% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ALKS shares. The Goldman Sachs Group upped their price target on Alkermes from $30.00 to $32.00 and gave the company a "buy" rating in a report on Friday, February 14th. Royal Bank of Canada began coverage on Alkermes in a report on Thursday, March 13th. They set a "sector perform" rating and a $40.00 target price for the company. StockNews.com raised Alkermes from a "buy" rating to a "strong-buy" rating in a research note on Thursday, February 13th. Deutsche Bank Aktiengesellschaft boosted their price objective on Alkermes from $40.00 to $52.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Finally, HC Wainwright reissued a "neutral" rating and issued a $46.00 target price on shares of Alkermes in a research report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Alkermes has a consensus rating of "Moderate Buy" and a consensus price target of $38.50.

Alkermes Stock Performance

Shares of NASDAQ ALKS traded up $0.12 during trading hours on Monday, hitting $27.12. The stock had a trading volume of 112,521 shares, compared to its average volume of 1,750,133. The firm's 50-day moving average price is $33.14 and its two-hundred day moving average price is $30.47. Alkermes plc has a 52 week low of $22.90 and a 52 week high of $36.45. The company has a market capitalization of $4.47 billion, a P/E ratio of 12.50, a P/E/G ratio of 2.20 and a beta of 0.39.

Alkermes (NASDAQ:ALKS - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $0.92 EPS 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%. As a group, analysts expect that Alkermes plc will post 1.31 EPS for the current fiscal year.

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.