Alkermes plc (NASDAQ:ALKS) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its holdings in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 24.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,335 shares of the company's stock after selling 22,414 shares during the period. Allspring Global Investments Holdings LLC's holdings in Alkermes were worth $2,255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. RTW Investments LP grew its holdings in Alkermes by 13.6% in the 4th quarter. RTW Investments LP now owns 7,557,835 shares of the company's stock valued at $217,363,000 after buying an additional 903,802 shares in the last quarter. Renaissance Technologies LLC increased its stake in Alkermes by 1.1% during the fourth quarter. Renaissance Technologies LLC now owns 5,478,728 shares of the company's stock worth $157,568,000 after purchasing an additional 57,697 shares during the period. American Century Companies Inc. increased its stake in Alkermes by 6.5% during the fourth quarter. American Century Companies Inc. now owns 3,450,707 shares of the company's stock worth $99,242,000 after purchasing an additional 209,740 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Alkermes by 4.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,019,508 shares of the company's stock worth $86,842,000 after buying an additional 128,701 shares during the period. Finally, Avoro Capital Advisors LLC purchased a new stake in shares of Alkermes during the fourth quarter worth approximately $70,462,000. Institutional investors and hedge funds own 95.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ALKS shares. Cantor Fitzgerald raised Alkermes to a "strong-buy" rating in a report on Tuesday, May 13th. Deutsche Bank Aktiengesellschaft upped their price target on Alkermes from $40.00 to $52.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Wall Street Zen downgraded Alkermes from a "strong-buy" rating to a "buy" rating in a report on Monday, May 5th. Robert W. Baird upped their price target on Alkermes from $38.00 to $41.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Finally, UBS Group raised 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 report on Tuesday, June 17th. Three investment 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $40.00.

Insider Buying and Selling at Alkermes

In other news, SVP Christian Todd Nichols sold 3,334 shares of the firm's stock in a transaction on 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 in the company, valued at $2,680,206.72. This trade represents a 3.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.40% of the stock is currently owned by corporate insiders.

Alkermes Stock Down 0.6%

Shares of Alkermes stock traded down $0.18 during trading on Friday, reaching $30.28. The company's stock had a trading volume of 1,483,309 shares, compared to its average volume of 1,734,758. The business has a 50 day moving average price of $30.18 and a 200-day moving average price of $30.88. The company has a market capitalization of $4.99 billion, a P/E ratio of 14.49, a price-to-earnings-growth ratio of 1.86 and a beta of 0.44. Alkermes plc has a 12-month low of $22.97 and a 12-month high of $36.45.

Alkermes (NASDAQ:ALKS - Get Free Report) last released 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). The business had revenue of $306.51 million during the quarter, compared to analysts' expectations of $307.53 million. Alkermes had a return on equity of 27.52% and a net margin of 23.30%. The company's revenue was down 12.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 EPS. Research analysts predict 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.