Alkermes plc (NASDAQ:ALKS) Shares Sold by Atle Fund Management AB

Atle Fund Management AB lowered its position in Alkermes plc (NASDAQ:ALKS - Free Report) by 19.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 214,778 shares of the company's stock after selling 51,721 shares during the period. Alkermes makes up approximately 3.2% of Atle Fund Management AB's investment portfolio, making the stock its 14th largest holding. Atle Fund Management AB owned 0.13% of Alkermes worth $7,092,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Avoro Capital Advisors LLC acquired a new position in shares of Alkermes during the 4th quarter worth approximately $70,462,000. Norges Bank purchased a new position in shares of Alkermes during the 4th quarter worth $56,684,000. RTW Investments LP grew its holdings in shares of Alkermes by 13.6% during the 4th quarter. RTW Investments LP now owns 7,557,835 shares of the company's stock worth $217,363,000 after purchasing an additional 903,802 shares during the period. Nuveen Asset Management LLC grew its holdings in shares of Alkermes by 109.5% during the 4th quarter. Nuveen Asset Management LLC now owns 1,659,821 shares of the company's stock worth $47,736,000 after purchasing an additional 867,492 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of Alkermes by 147.4% during the 4th quarter. JPMorgan Chase & Co. now owns 889,472 shares of the company's stock worth $25,581,000 after purchasing an additional 529,962 shares during the period. Hedge funds and other institutional investors own 95.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ALKS shares. Wall Street Zen cut Alkermes from a "strong-buy" rating to a "buy" rating in a report on Monday, May 5th. Royal Bank Of Canada increased their price target on Alkermes from $39.00 to $40.00 and gave the company a "sector perform" rating in a research report on Friday, May 2nd. Robert W. Baird increased their price target on Alkermes from $38.00 to $41.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. HC Wainwright reaffirmed a "neutral" rating on shares of Alkermes in a research report on Friday, May 2nd. Finally, Cantor Fitzgerald raised Alkermes to a "strong-buy" rating in a research report on Tuesday, May 13th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $40.92.

Alkermes Price Performance

Shares of ALKS stock traded down $0.14 during midday trading on Friday, hitting $29.22. The company had a trading volume of 1,398,214 shares, compared to its average volume of 1,727,411. The company's 50 day simple moving average is $30.03 and its 200 day simple moving average is $30.89. Alkermes plc has a 52-week low of $24.48 and a 52-week high of $36.45. The stock has a market cap of $4.82 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 1.82 and a beta of 0.44.

Alkermes (NASDAQ:ALKS - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.13 earnings per share 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 analysts' expectations of $307.53 million. Alkermes had a net margin of 23.30% and a return on equity of 27.52%. The firm's quarterly revenue was down 12.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.43 earnings per share. Analysts anticipate that Alkermes plc will post 1.31 EPS for the current year.

Insider Activity

In other news, SVP Christian Todd Nichols sold 3,334 shares of the company'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 sale, the senior vice president directly owned 86,208 shares in the company, valued at $2,680,206.72. This represents a 3.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.40% of the stock is owned by corporate 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.