Atle Fund Management AB decreased its stake in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 19.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 214,778 shares of the company's stock after selling 51,721 shares during the quarter. Alkermes comprises approximately 3.2% of Atle Fund Management AB's investment portfolio, making the stock its 14th largest holding. Atle Fund Management AB owned about 0.13% of Alkermes worth $7,092,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of ALKS. Victory Capital Management Inc. lifted its holdings in shares of Alkermes by 30.9% in the 1st quarter. Victory Capital Management Inc. now owns 120,997 shares of the company's stock worth $3,995,000 after purchasing an additional 28,596 shares in the last quarter. Hohimer Wealth Management LLC lifted its holdings in shares of Alkermes by 3.8% in the 1st quarter. Hohimer Wealth Management LLC now owns 12,362 shares of the company's stock worth $408,000 after purchasing an additional 450 shares in the last quarter. Edgestream Partners L.P. lifted its holdings in shares of Alkermes by 103.8% in the 1st quarter. Edgestream Partners L.P. now owns 110,244 shares of the company's stock worth $3,640,000 after purchasing an additional 56,138 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of Alkermes by 46.3% in the 1st quarter. Cerity Partners LLC now owns 26,240 shares of the company's stock worth $866,000 after purchasing an additional 8,310 shares in the last quarter. Finally, Penserra Capital Management LLC bought a new position in shares of Alkermes in the 1st quarter worth $759,000. Institutional investors and hedge funds own 95.21% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on the company. Wall Street Zen cut Alkermes from a "strong-buy" rating to a "buy" rating in a report on Monday, May 5th. Deutsche Bank Aktiengesellschaft raised their price objective on Alkermes from $40.00 to $52.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. The Goldman Sachs Group initiated coverage on Alkermes in a research note on Tuesday, July 15th. They set a "buy" rating and a $43.00 price objective on the stock. Needham & Company LLC restated a "buy" rating and set a $45.00 price objective on shares of Alkermes in a research note on Monday. Finally, Cantor Fitzgerald upgraded Alkermes to a "strong-buy" rating in a research note on Tuesday, May 13th. Three research 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 company. According to MarketBeat, Alkermes currently has an average rating of "Moderate Buy" and a consensus price target of $40.92.
View Our Latest Analysis on Alkermes
Insiders Place Their Bets
In related news, SVP Christian Todd Nichols sold 3,334 shares of the business's stock in a transaction that occurred 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 sale, the senior vice president owned 86,208 shares in the company, valued at $2,680,206.72. The trade was a 3.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 4.40% of the stock is owned by insiders.
Alkermes Stock Up 1.4%
ALKS traded up $0.37 during trading hours on Tuesday, hitting $27.03. The stock had a trading volume of 2,952,069 shares, compared to its average volume of 1,745,877. The company's fifty day simple moving average is $30.03 and its 200 day simple moving average is $30.92. Alkermes plc has a 1 year low of $24.62 and a 1 year high of $36.45. The stock has a market cap of $4.46 billion, a PE ratio of 12.93, a price-to-earnings-growth ratio of 1.66 and a beta of 0.44.
Alkermes (NASDAQ:ALKS - Get Free Report) last announced 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 return on equity of 27.52% and a net margin of 23.30%. The firm had revenue of $306.51 million during the quarter, compared to analysts' expectations of $307.53 million. During the same period last year, the business posted $0.43 EPS. The company's revenue was down 12.6% compared to the same quarter last year. As a group, equities analysts expect that Alkermes plc will post 1.31 EPS for the current year.
Alkermes Company Profile
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Free Report)
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.
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