Wellington Management Group LLP Cuts Position in Alkermes plc (NASDAQ:ALKS)

Wellington Management Group LLP lessened its position in Alkermes plc (NASDAQ:ALKS - Free Report) by 44.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,012,483 shares of the company's stock after selling 5,645,762 shares during the period. Wellington Management Group LLP owned 4.31% of Alkermes worth $201,679,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Centiva Capital LP bought a new position in Alkermes in the 3rd quarter valued at approximately $367,000. Natixis Advisors LLC increased its position in Alkermes by 36.8% in the 4th quarter. Natixis Advisors LLC now owns 49,922 shares of the company's stock valued at $1,436,000 after acquiring an additional 13,432 shares during the period. Sanctuary Advisors LLC raised its stake in shares of Alkermes by 254.5% during 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 lifted its holdings in shares of Alkermes by 74.7% during the third quarter. BNP Paribas Financial Markets now owns 149,493 shares of the company's stock worth $4,184,000 after purchasing an additional 63,939 shares during the period. Finally, Barclays PLC grew 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 worth $11,867,000 after purchasing an additional 220,893 shares during the last quarter. 95.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ALKS has been the topic of several recent research reports. 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. HC Wainwright reaffirmed a "neutral" rating and issued a $46.00 price objective on shares of Alkermes in a research note on Thursday, February 13th. Deutsche Bank Aktiengesellschaft upped their target price on Alkermes from $40.00 to $52.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Royal Bank of Canada assumed coverage on shares of Alkermes in a research report on Thursday, March 13th. They issued a "sector perform" rating and a $40.00 price target on the stock. Finally, StockNews.com raised shares of Alkermes from a "buy" rating to a "strong-buy" rating in a research note on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Alkermes presently has an average rating of "Moderate Buy" and an average price target of $39.38.

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Alkermes Stock Down 1.9 %

ALKS stock traded down $0.57 during midday trading on Monday, reaching $29.49. 2,113,918 shares of the company's stock traded hands, compared to its average volume of 1,753,640. The firm's fifty day moving average price is $33.56 and its 200-day moving average price is $30.48. Alkermes plc has a 52 week low of $22.90 and a 52 week high of $36.45. The company has a market cap of $4.86 billion, a price-to-earnings ratio of 13.59, 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%. Analysts forecast that Alkermes plc will post 1.31 earnings per share for the current year.

Insider Transactions at Alkermes

In related news, EVP Craig C. Hopkinson sold 100,918 shares of the company's stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $32.05, for a total transaction of $3,234,421.90. Following the completion of the sale, the executive vice president now owns 44,290 shares in the company, valued at approximately $1,419,494.50. This represents a 69.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 4.89% of the company's stock.

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.