Rhumbline Advisers Has $15.03 Million Stake in Alkermes plc (NASDAQ:ALKS)

Rhumbline Advisers lowered its stake in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 2.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 455,197 shares of the company's stock after selling 9,517 shares during the period. Rhumbline Advisers owned 0.28% of Alkermes worth $15,031,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Private Client Services LLC acquired a new stake in Alkermes during the first quarter worth about $929,000. GAMMA Investing LLC raised its stake in shares of Alkermes by 4,255.3% during the first quarter. GAMMA Investing LLC now owns 178,176 shares of the company's stock valued at $5,396,000 after purchasing an additional 174,085 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in Alkermes by 60.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,107 shares of the company's stock worth $463,000 after buying an additional 6,073 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Alkermes in the fourth quarter worth about $3,273,000. Finally, Mackenzie Financial Corp boosted its stake in shares of Alkermes by 9.0% during the 4th quarter. Mackenzie Financial Corp now owns 332,626 shares of the company's stock valued at $9,566,000 after buying an additional 27,604 shares during the last quarter. Hedge funds and other institutional investors own 95.21% of the company's stock.

Alkermes Price Performance

Shares of NASDAQ:ALKS traded down $0.42 during trading on Thursday, reaching $30.78. The stock had a trading volume of 1,592,858 shares, compared to its average volume of 1,739,353. The stock has a market capitalization of $5.08 billion, a PE ratio of 14.18, a P/E/G ratio of 2.20 and a beta of 0.47. Alkermes plc has a 52 week low of $22.90 and a 52 week high of $36.45. The business's 50-day moving average price is $29.60 and its 200 day moving average price is $31.01.

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

Insider Buying and Selling at Alkermes

In related news, SVP Christian Todd Nichols sold 3,333 shares of the company's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $31.95, for a total value of $106,489.35. Following the completion of the sale, the senior vice president now owns 89,542 shares in the company, valued at $2,860,866.90. This represents a 3.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.40% of the company's stock.

Wall Street Analysts Forecast Growth

ALKS has been the subject of a number of research reports. Cantor Fitzgerald raised shares of Alkermes to a "strong-buy" rating in a report on Tuesday, May 13th. UBS Group restated a "sector perform" rating on shares of Alkermes in a research report on Monday, April 28th. Royal Bank of Canada increased their price objective on Alkermes from $39.00 to $40.00 and gave the stock a "sector perform" rating in a research note on Friday, May 2nd. Wall Street Zen cut shares of Alkermes from a "strong-buy" rating to a "buy" rating in a research note on Monday, May 5th. Finally, Robert W. Baird lifted their price target on Alkermes from $38.00 to $41.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Alkermes currently has an average rating of "Moderate Buy" and a consensus target price of $38.85.

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.