Prudential Financial Inc. Has $5.68 Million Stake in Alkermes plc (NASDAQ:ALKS)

Prudential Financial Inc. lowered its stake in Alkermes plc (NASDAQ:ALKS - Free Report) by 25.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 197,631 shares of the company's stock after selling 68,359 shares during the period. Prudential Financial Inc. owned 0.12% of Alkermes worth $5,684,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Centiva Capital LP bought a new position in shares of Alkermes in the 3rd quarter valued at about $367,000. Natixis Advisors LLC lifted its holdings in Alkermes by 36.8% in the fourth quarter. Natixis Advisors LLC now owns 49,922 shares of the company's stock valued at $1,436,000 after buying an additional 13,432 shares during the period. Sanctuary Advisors LLC boosted its stake in Alkermes by 254.5% in the third quarter. Sanctuary Advisors LLC now owns 32,791 shares of the company's stock valued at $944,000 after acquiring an additional 23,541 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Alkermes by 74.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 149,493 shares of the company's stock worth $4,184,000 after acquiring an additional 63,939 shares during the period. Finally, Barclays PLC raised 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. Institutional investors own 95.21% of the company's stock.

Insider Transactions at Alkermes

In other news, EVP Craig C. Hopkinson sold 100,918 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $32.05, for a total transaction of $3,234,421.90. Following the completion of the transaction, the executive vice president now directly owns 44,290 shares in the company, valued at $1,419,494.50. This represents a 69.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 4.89% of the company's stock.

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Alkermes Price Performance

ALKS stock traded down $1.60 during trading hours on Friday, reaching $30.06. 2,206,428 shares of the stock were exchanged, compared to its average volume of 1,752,309. The company has a market cap of $4.89 billion, a price-to-earnings ratio of 13.85, a PEG ratio of 2.20 and a beta of 0.62. The firm's 50-day moving average is $33.60 and its 200-day moving average is $30.43. Alkermes plc has a 12 month low of $22.90 and a 12 month high of $36.45.

Alkermes (NASDAQ:ALKS - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 research analysts forecast that Alkermes plc will post 1.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. HC Wainwright reaffirmed a "neutral" rating and set a $46.00 price objective on shares of Alkermes in a research note on Thursday, February 13th. Royal Bank of Canada assumed coverage on Alkermes in a research report on Thursday, March 13th. They set a "sector perform" rating and a $40.00 target price for the company. The Goldman Sachs Group increased 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. StockNews.com raised shares of Alkermes from a "buy" rating to a "strong-buy" rating in a research note on Thursday, February 13th. Finally, UBS Group raised shares of Alkermes from a "sell" rating to a "neutral" rating and upped their target price for the company 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 issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Alkermes presently has an average rating of "Moderate Buy" and a consensus target price of $39.38.

Alkermes 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.