Ameriprise Financial Inc. Sells 83,441 Shares of Alkermes plc (NASDAQ:ALKS)

Ameriprise Financial Inc. reduced its holdings in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 17.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 397,519 shares of the company's stock after selling 83,441 shares during the quarter. Ameriprise Financial Inc. owned 0.25% of Alkermes worth $11,433,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of ALKS. Venturi Wealth Management LLC acquired a new position in Alkermes during the fourth quarter worth about $25,000. EverSource Wealth Advisors LLC grew its holdings in shares of Alkermes by 106.2% during 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 during the last quarter. Blue Trust Inc. grew its holdings in shares of Alkermes by 2,231.5% during 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 during the last quarter. Smartleaf Asset Management LLC increased its position in Alkermes by 558.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,950 shares of the company's stock worth $85,000 after purchasing an additional 2,502 shares in the last quarter. Finally, Cornerstone Investment Partners LLC bought a new position in Alkermes in the 4th quarter valued at approximately $203,000. 95.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Cantor Fitzgerald upgraded shares of Alkermes to a "strong-buy" rating in a report on Tuesday, May 13th. The Goldman Sachs Group upped their target price on Alkermes from $30.00 to $32.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Wall Street Zen lowered Alkermes from a "strong-buy" rating to a "buy" rating in a research note on Monday, May 5th. Royal Bank of Canada boosted their price target on Alkermes from $39.00 to $40.00 and gave the stock a "sector perform" rating in a report on Friday, May 2nd. Finally, HC Wainwright reiterated a "neutral" rating on shares of Alkermes in a report on Friday, May 2nd. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Alkermes presently has a consensus rating of "Moderate Buy" and an average price target of $38.33.

Alkermes Stock Down 1.6%

Alkermes stock traded down $0.48 during trading hours on Thursday, reaching $30.05. 694,655 shares of the company's stock were exchanged, compared to its average volume of 1,756,334. The firm's 50 day simple moving average is $30.41 and its 200 day simple moving average is $30.78. Alkermes plc has a twelve month low of $22.90 and a twelve month high of $36.45. The firm has a market capitalization of $4.96 billion, a PE ratio of 13.85, a PEG 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 analysts' consensus estimates of $0.32 by ($0.19). Alkermes had a net margin of 23.57% and a return on equity of 30.80%. The business had revenue of $306.51 million during the quarter, compared to analyst estimates of $307.53 million. During the same period in the prior year, the firm earned $0.43 earnings per share. The firm's revenue for the quarter was down 12.6% compared to the same quarter last year. Analysts anticipate that Alkermes plc will post 1.31 EPS for the current year.

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.