13D Management LLC reduced its stake in shares of Alkermes plc (NASDAQ:ALKS – Get Rating) by 8.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 389,267 shares of the company's stock after selling 34,393 shares during the period. Alkermes accounts for about 3.9% of 13D Management LLC's portfolio, making the stock its 9th largest holding. 13D Management LLC owned approximately 0.24% of Alkermes worth $10,242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also made changes to their positions in the company. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Alkermes during the 1st quarter valued at approximately $56,494,000. BlackRock Inc. raised its position in shares of Alkermes by 5.8% during the 1st quarter. BlackRock Inc. now owns 15,080,046 shares of the company's stock valued at $396,756,000 after buying an additional 827,759 shares during the period. Sarissa Capital Management LP raised its position in shares of Alkermes by 6.3% during the 4th quarter. Sarissa Capital Management LP now owns 14,040,000 shares of the company's stock valued at $326,570,000 after buying an additional 827,000 shares during the period. State Street Corp raised its position in shares of Alkermes by 15.7% during the 4th quarter. State Street Corp now owns 5,694,440 shares of the company's stock valued at $132,453,000 after buying an additional 772,964 shares during the period. Finally, Woodline Partners LP raised its position in shares of Alkermes by 62.2% during the 4th quarter. Woodline Partners LP now owns 1,618,805 shares of the company's stock valued at $37,653,000 after buying an additional 620,848 shares during the period. 94.77% of the stock is currently owned by institutional investors and hedge funds.
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Insider Buying and Selling at Alkermes
In other Alkermes news, SVP Christian Todd Nichols sold 7,474 shares of the company's stock in a transaction on Tuesday, June 21st. The shares were sold at an average price of $28.26, for a total value of $211,215.24. Following the completion of the transaction, the senior vice president now owns 21,035 shares in the company, valued at $594,449.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.76% of the stock is currently owned by insiders.
Alkermes Stock Up 1.4 %
Shares of ALKS stock traded up $0.34 on Monday, reaching $24.35. 8,426 shares of the stock were exchanged, compared to its average volume of 1,472,054. The company has a current ratio of 2.39, a quick ratio of 2.03 and a debt-to-equity ratio of 0.27. The business's 50 day moving average price is $26.91 and its 200 day moving average price is $27.48. The company has a market capitalization of $4.00 billion, a price-to-earnings ratio of -42.12 and a beta of 0.61. Alkermes plc has a twelve month low of $21.24 and a twelve month high of $33.00.
Alkermes (NASDAQ:ALKS – Get Rating) last issued its earnings results on Wednesday, July 27th. The company reported $0.06 EPS for the quarter, topping analysts' consensus estimates of $0.01 by $0.05. Alkermes had a negative net margin of 8.02% and a positive return on equity of 0.79%. The firm had revenue of $276.22 million during the quarter, compared to the consensus estimate of $269.01 million. During the same quarter in the previous year, the firm posted $0.13 earnings per share. The company's revenue was down 9.1% compared to the same quarter last year. As a group, sell-side analysts expect that Alkermes plc will post -0.34 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on ALKS. StockNews.com lowered shares of Alkermes from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, August 24th. Stifel Nicolaus lifted their price target on shares of Alkermes to $28.00 in a research report on Wednesday, July 27th. Mizuho cut their target price on Alkermes from $36.00 to $34.00 and set a "buy" rating on the stock in a research report on Thursday, July 28th. Finally, Piper Sandler initiated coverage on Alkermes in a research report on Tuesday, August 16th. They set a "neutral" rating and a $26.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, Alkermes presently has an average rating of "Moderate Buy" and an average price target of $30.44.
Alkermes Company Profile
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Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in various therapeutic areas in the United States, Ireland, and internationally. Its marketed products include ARISTADA, an intramuscular injectable suspension for the treatment of schizophrenia; VIVITROL for the treatment of alcohol and prevention of opioid dependence; RISPERDAL CONSTA for the treatment of schizophrenia and bipolar I disorder; INVEGA SUSTENNA for the treatment of schizophrenia and schizoaffective disorder; XEPLION, INVEGA TRINZA, and TREVICTA to treat schizophrenia and schizoaffective; and VUMERITY for the treatment of relapsing forms of multiple sclerosis in adults, including clinically isolated syndrome, relapsing-remitting and active secondary progressive diseases.
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