Alkermes plc (NASDAQ:ALKS) Position Cut by DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main trimmed its position in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 62.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 213,928 shares of the company's stock after selling 354,147 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main owned approximately 0.13% of Alkermes worth $6,153,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Venturi Wealth Management LLC acquired a new stake in shares of Alkermes during the 4th quarter worth $25,000. EverSource Wealth Advisors LLC increased its holdings in Alkermes by 106.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,635 shares of the company's stock valued at $47,000 after purchasing an additional 842 shares in the last quarter. Blue Trust Inc. increased its holdings in Alkermes by 2,231.5% in the 4th quarter. Blue Trust Inc. now owns 1,702 shares of the company's stock valued at $49,000 after purchasing an additional 1,629 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in Alkermes by 558.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,950 shares of the company's stock valued at $85,000 after purchasing an additional 2,502 shares in the last quarter. Finally, Cornerstone Investment Partners LLC acquired a new stake in Alkermes in the 4th quarter valued at $203,000. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ALKS. Cantor Fitzgerald raised shares of Alkermes to a "strong-buy" rating in a research report on Tuesday. HC Wainwright reaffirmed a "neutral" rating on shares of Alkermes in a research report on Friday, May 2nd. StockNews.com downgraded shares of Alkermes from a "strong-buy" rating to a "buy" rating in a research report on Monday, May 5th. Robert W. Baird raised their target price on Alkermes from $38.00 to $41.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Alkermes from $40.00 to $52.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $38.33.

Alkermes Stock Performance

Shares of ALKS stock traded up $0.49 during trading hours on Thursday, hitting $31.11. 221,143 shares of the company were exchanged, compared to its average volume of 1,766,695. Alkermes plc has a one year low of $22.90 and a one year high of $36.45. The business's 50-day simple moving average is $30.70 and its two-hundred day simple moving average is $30.61. The stock has a market capitalization of $5.13 billion, a price-to-earnings ratio of 14.34, a P/E/G ratio of 2.20 and a beta of 0.51.

Alkermes (NASDAQ:ALKS - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.19). Alkermes had a return on equity of 30.80% and a net margin of 23.57%. The firm had revenue of $306.51 million for the quarter, compared to the consensus estimate of $307.53 million. During the same quarter last year, the business earned $0.43 earnings per share. The business's revenue for the quarter was down 12.6% compared to the same quarter last year. As a group, analysts anticipate that Alkermes plc will post 1.31 EPS for the current fiscal year.

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.