Price T Rowe Associates Inc. MD lowered its holdings in Alkermes plc (NASDAQ:ALKS - Free Report) by 5.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,256,447 shares of the company's stock after selling 742,159 shares during the quarter. Price T Rowe Associates Inc. MD owned 7.58% of Alkermes worth $352,497,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in ALKS. Barclays PLC lifted its stake in shares of Alkermes by 108.8% in the third quarter. Barclays PLC now owns 423,931 shares of the company's stock valued at $11,867,000 after purchasing an additional 220,893 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Alkermes during the 3rd quarter valued at approximately $582,000. Tidal Investments LLC purchased a new stake in shares of Alkermes during the 3rd quarter worth approximately $1,098,000. Franklin Resources Inc. boosted its stake in shares of Alkermes by 2.5% during the 3rd quarter. Franklin Resources Inc. now owns 120,006 shares of the company's stock worth $3,486,000 after acquiring an additional 2,903 shares in the last quarter. Finally, Diversified Trust Co increased its stake in Alkermes by 11.5% in the 4th quarter. Diversified Trust Co now owns 42,509 shares of the company's stock valued at $1,223,000 after purchasing an additional 4,378 shares in the last quarter. 95.21% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of analysts have commented on the company. Deutsche Bank Aktiengesellschaft boosted their target price on Alkermes from $40.00 to $52.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. StockNews.com raised shares of Alkermes from a "buy" rating to a "strong-buy" rating in a research note on Thursday, February 13th. HC Wainwright restated a "neutral" rating and set a $46.00 target price on shares of Alkermes in a research report on Thursday, February 13th. UBS Group reaffirmed a "sector perform" rating on shares of Alkermes in a report on Monday. Finally, Royal Bank of Canada reissued an "underperform" rating on shares of Alkermes in a research note on Monday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $38.08.
Check Out Our Latest Stock Report on Alkermes
Alkermes Stock Performance
Alkermes stock traded up $0.86 during trading on Tuesday, hitting $28.77. The company's stock had a trading volume of 1,871,782 shares, compared to its average volume of 1,758,753. The stock's fifty day moving average is $31.76 and its 200 day moving average is $30.43. Alkermes plc has a 1-year low of $22.90 and a 1-year high of $36.45. The stock has a market capitalization of $4.74 billion, a price-to-earnings ratio of 13.26, a P/E/G ratio of 2.20 and a beta of 0.39.
Alkermes (NASDAQ:ALKS - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.81 by $0.11. Alkermes had a net margin of 23.57% and a return on equity of 30.80%. On average, research analysts anticipate that Alkermes plc will post 1.31 EPS for the current fiscal year.
Insider Activity
In other Alkermes news, EVP Craig C. Hopkinson sold 100,918 shares of the firm's stock in a transaction dated Thursday, January 30th. The stock was 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 directly owns 44,290 shares of the company's stock, valued at $1,419,494.50. This trade represents a 69.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 4.40% of the company's stock.
Alkermes Company Profile
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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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