Alkermes plc (NASDAQ:ALKS) Shares Sold by Alps Advisors Inc.

Alps Advisors Inc. lessened its position in Alkermes plc (NASDAQ:ALKS - Free Report) by 11.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 115,732 shares of the company's stock after selling 15,106 shares during the period. Alps Advisors Inc. owned approximately 0.07% of Alkermes worth $3,821,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. USA Financial Formulas purchased a new position in Alkermes in the 1st quarter worth about $49,000. Fifth Third Bancorp grew its stake in shares of Alkermes by 54.4% in the 1st quarter. Fifth Third Bancorp now owns 1,479 shares of the company's stock valued at $49,000 after buying an additional 521 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Alkermes by 106.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,635 shares of the company's stock worth $47,000 after purchasing an additional 842 shares during the period. GF Fund Management CO. LTD. bought a new stake in Alkermes during the fourth quarter worth approximately $98,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Alkermes by 31.9% during the first quarter. GAMMA Investing LLC now owns 5,396 shares of the company's stock worth $178,000 after buying an additional 1,305 shares during the last quarter. Institutional investors and hedge funds own 95.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Robert W. Baird increased their price objective on Alkermes from $38.00 to $41.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. HC Wainwright reiterated a "neutral" rating on shares of Alkermes in a report on Friday, May 2nd. Royal Bank Of Canada increased their target price on Alkermes from $39.00 to $40.00 and gave the company a "sector perform" rating in a research note on Friday, May 2nd. UBS Group raised Alkermes from a "neutral" rating to a "buy" rating and increased their target price for the company from $33.00 to $42.00 in a research note on Tuesday, June 17th. Finally, Needham & Company LLC began coverage on Alkermes in a research report on Wednesday, May 28th. They set a "buy" rating and a $45.00 price target on the stock. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Alkermes currently has a consensus rating of "Moderate Buy" and a consensus price target of $40.00.

Alkermes Trading Down 0.6%

Alkermes stock traded down $0.18 during mid-day trading on Friday, hitting $30.28. The stock had a trading volume of 1,483,309 shares, compared to its average volume of 1,734,258. The firm has a market capitalization of $4.99 billion, a P/E ratio of 14.49, a P/E/G ratio of 1.89 and a beta of 0.44. The firm's 50 day moving average is $30.15 and its 200 day moving average is $30.89. Alkermes plc has a one year low of $23.12 and a one year high of $36.45.

Alkermes (NASDAQ:ALKS - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.32 by ($0.19). The business had revenue of $306.51 million during the quarter, compared to the consensus estimate of $307.53 million. Alkermes had a net margin of 23.30% and a return on equity of 27.52%. The firm's revenue was down 12.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.43 EPS. As a group, equities research analysts forecast that Alkermes plc will post 1.31 earnings per share for the current year.

Insider Buying and Selling at Alkermes

In other news, SVP Christian Todd Nichols sold 3,334 shares of the business's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $31.09, for a total value of $103,654.06. Following the completion of the transaction, the senior vice president owned 86,208 shares of the company's stock, valued at $2,680,206.72. The trade was a 3.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.40% of the stock is owned by company insiders.

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.