Royce & Associates LP decreased its position in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 19.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 54,431 shares of the company's stock after selling 13,197 shares during the period. Royce & Associates LP's holdings in Alkermes were worth $1,565,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Loomis Sayles & Co. L P grew its holdings in Alkermes by 365.5% in the third quarter. Loomis Sayles & Co. L P now owns 1,882,936 shares of the company's stock worth $52,704,000 after purchasing an additional 1,478,422 shares during the period. Principal Financial Group Inc. increased its position in Alkermes by 2.5% during the 4th quarter. Principal Financial Group Inc. now owns 899,764 shares of the company's stock valued at $25,877,000 after buying an additional 21,821 shares in the last quarter. Frazier Life Sciences Management L.P. purchased a new position in Alkermes during the third quarter valued at $16,126,000. Rhumbline Advisers boosted its holdings in Alkermes by 0.4% in 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 in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Alkermes in the fourth quarter worth $12,293,000. Institutional investors own 95.21% of the company's stock.
Alkermes Stock Down 2.6 %
ALKS stock traded down $0.91 during midday trading on Tuesday, hitting $33.88. The company's stock had a trading volume of 1,407,682 shares, compared to its average volume of 1,695,442. The company has a 50 day moving average of $33.10 and a two-hundred day moving average of $30.12. Alkermes plc has a 12 month low of $22.90 and a 12 month high of $36.45. The firm has a market capitalization of $5.51 billion, a price-to-earnings ratio of 15.61, a price-to-earnings-growth ratio of 2.20 and a beta of 0.62.
Alkermes (NASDAQ:ALKS - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.92 earnings per share for the quarter, beating 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%. On average, analysts anticipate that Alkermes plc will post 1.31 earnings per share for the current fiscal year.
Insider Activity at Alkermes
In related news, EVP Craig C. Hopkinson sold 144,419 shares of the company's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $35.53, for a total transaction 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. This represents a 71.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.89% of the stock is owned by insiders.
Analyst Ratings Changes
Several equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Alkermes in a research report on Tuesday, February 11th. They issued a "buy" rating and a $40.00 price target for the company. UBS Group upgraded shares of Alkermes from a "sell" rating to a "neutral" rating and upped their target price for the stock from $21.00 to $38.00 in a research note on Tuesday, March 4th. Royal Bank of Canada assumed coverage on shares of Alkermes in a research report on Thursday, March 13th. They set a "sector perform" rating and a $40.00 price target for the company. HC Wainwright reaffirmed a "neutral" rating and issued a $46.00 price objective on shares of Alkermes in a research report on Thursday, February 13th. Finally, The Goldman Sachs Group lifted their target price on Alkermes from $30.00 to $32.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Four 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 MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $38.46.
Get Our Latest Research Report on Alkermes
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.
See Also
Before you consider Alkermes, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alkermes wasn't on the list.
While Alkermes currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Enter your email address and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
