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Woodline Partners LP Has $34.58 Million Stake in Alkermes Plc (NASDAQ:ALKS)

Financial News Live ·  09/11 21:31

Woodline Partners LP reduced its stake in shares of Alkermes plc (NASDAQ:ALKS – Get Rating) by 18.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,314,406 shares of the company's stock after selling 304,399 shares during the quarter. Woodline Partners LP owned approximately 0.80% of Alkermes worth $34,582,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Steward Partners Investment Advisory LLC lifted its position in Alkermes by 100.0% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the company's stock worth $26,000 after buying an additional 500 shares in the last quarter. Credit Agricole S A bought a new stake in shares of Alkermes in the 4th quarter valued at approximately $35,000. UMB Bank N A MO acquired a new position in Alkermes in the fourth quarter worth approximately $47,000. Lazard Asset Management LLC bought a new position in Alkermes during the first quarter valued at approximately $72,000. Finally, Point72 Hong Kong Ltd acquired a new stake in Alkermes in the fourth quarter valued at approximately $201,000. 94.77% of the stock is currently owned by institutional investors and hedge funds.

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Alkermes Price Performance

Shares of NASDAQ ALKS opened at $24.01 on Friday. Alkermes plc has a 12 month low of $21.24 and a 12 month high of $33.00. The business's 50 day moving average is $26.91 and its two-hundred day moving average is $27.46. The company has a quick ratio of 2.03, a current ratio of 2.39 and a debt-to-equity ratio of 0.27.

Alkermes (NASDAQ:ALKS – Get Rating) last announced its earnings results on Wednesday, July 27th. The company reported $0.06 earnings per share (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 business had revenue of $276.22 million for the quarter, compared to analyst estimates of $269.01 million. During the same quarter in the previous year, the firm posted $0.13 earnings per share. Alkermes's revenue was down 9.1% compared to the same quarter last year. On average, analysts predict that Alkermes plc will post -0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ALKS. Stifel Nicolaus raised their price target on shares of Alkermes to $28.00 in a report on Wednesday, July 27th. StockNews.com downgraded shares of Alkermes from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, August 24th. Piper Sandler started coverage on Alkermes in a research report on Tuesday, August 16th. They issued a "neutral" rating and a $26.00 price target for the company. Finally, Mizuho lowered their price objective on Alkermes from $36.00 to $34.00 and set a "buy" rating on the stock in a report on Thursday, July 28th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $30.44.

Insider Buying and Selling at Alkermes

In other Alkermes news, SVP Christian Todd Nichols sold 7,474 shares of the 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 sale, the senior vice president now directly owns 21,035 shares of the company's stock, valued at approximately $594,449.10. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 4.76% of the company's stock.

About Alkermes

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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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