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

Alps Advisors Inc. decreased its holdings in Alkermes plc (NASDAQ:ALKS - Free Report) by 11.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 115,732 shares of the company's stock after selling 15,106 shares during the quarter. Alps Advisors Inc. owned 0.07% of Alkermes worth $3,821,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ALKS. Penserra Capital Management LLC purchased a new position in shares of Alkermes during the first quarter valued at about $759,000. GF Fund Management CO. LTD. lifted its position in shares of Alkermes by 22.0% during the first quarter. GF Fund Management CO. LTD. now owns 4,143 shares of the company's stock worth $137,000 after purchasing an additional 746 shares in the last quarter. Principal Financial Group Inc. increased its stake in Alkermes by 3.2% in the first quarter. Principal Financial Group Inc. now owns 928,865 shares of the company's stock valued at $30,671,000 after purchasing an additional 29,101 shares during the last quarter. New York State Teachers Retirement System lifted its holdings in shares of Alkermes by 2.8% during the 1st quarter. New York State Teachers Retirement System now owns 89,703 shares of the company's stock worth $2,962,000 after acquiring an additional 2,425 shares during the period. Finally, Illinois Municipal Retirement Fund grew its position in shares of Alkermes by 0.9% during the first quarter. Illinois Municipal Retirement Fund now owns 82,680 shares of the company's stock worth $2,730,000 after buying an additional 702 shares in the last quarter. Institutional investors and hedge funds own 95.21% of the company's stock.

Alkermes Stock Down 2.8%

NASDAQ:ALKS traded down $0.84 on Tuesday, reaching $28.85. The company's stock had a trading volume of 1,404,342 shares, compared to its average volume of 1,736,340. The stock has a 50 day moving average price of $30.12 and a 200 day moving average price of $30.91. The firm has a market cap of $4.76 billion, a price-to-earnings ratio of 13.80, a price-to-earnings-growth ratio of 1.88 and a beta of 0.44. Alkermes plc has a 12-month low of $23.12 and a 12-month high of $36.45.

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

Insider Buying and Selling at Alkermes

In related news, SVP Christian Todd Nichols sold 3,334 shares of Alkermes stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $31.09, for a total transaction of $103,654.06. Following the sale, the senior vice president directly owned 86,208 shares of the company's stock, valued at approximately $2,680,206.72. The trade was a 3.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ALKS has been the subject of several recent research reports. Needham & Company LLC started coverage on Alkermes in a report on Wednesday, May 28th. They set a "buy" rating and a $45.00 price objective for the company. UBS Group upgraded shares of Alkermes from a "neutral" rating to a "buy" rating and upped their price target for the company from $33.00 to $42.00 in a research report on Tuesday, June 17th. Wall Street Zen lowered shares of Alkermes from a "strong-buy" rating to a "buy" rating in a research note on Monday, May 5th. HC Wainwright reissued a "neutral" rating on shares of Alkermes in a research report on Friday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Alkermes from $40.00 to $52.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $40.92.

About Alkermes

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.