Alkermes plc (NASDAQ:ALKS) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its position in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 20.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,690,195 shares of the company's stock after selling 446,395 shares during the period. Bank of New York Mellon Corp owned about 1.03% of Alkermes worth $55,810,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Alkermes by 0.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 100,032 shares of the company's stock valued at $2,877,000 after purchasing an additional 311 shares in the last quarter. Fifth Third Bancorp boosted its stake in Alkermes by 54.4% during the first quarter. Fifth Third Bancorp now owns 1,479 shares of the company's stock worth $49,000 after acquiring an additional 521 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in Alkermes by 3.9% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 14,203 shares of the company's stock worth $408,000 after acquiring an additional 532 shares in the last quarter. Illinois Municipal Retirement Fund boosted its stake in Alkermes by 0.9% during the first quarter. Illinois Municipal Retirement Fund now owns 82,680 shares of the company's stock worth $2,730,000 after acquiring an additional 702 shares in the last quarter. Finally, GF Fund Management CO. LTD. boosted its stake in Alkermes by 22.0% during the first quarter. GF Fund Management CO. LTD. now owns 4,143 shares of the company's stock worth $137,000 after acquiring an additional 746 shares in the last quarter. Hedge funds and other institutional investors own 95.21% of the company's stock.

Insider Buying and Selling

In related news, SVP Christian Todd Nichols sold 3,334 shares of the business's stock in a transaction on Tuesday, June 10th. The shares were 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 of the company's stock, valued at approximately $2,680,206.72. The trade was a 3.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.40% of the company's stock.

Alkermes Trading Down 0.6%

NASDAQ ALKS traded down $0.18 on Friday, hitting $30.28. 1,483,309 shares of the company's stock traded hands, compared to its average volume of 1,735,394. Alkermes plc has a 1-year low of $23.12 and a 1-year high of $36.45. The firm's 50-day moving average price is $30.15 and its two-hundred day moving average price is $30.90. The firm has a market capitalization of $4.99 billion, a PE ratio of 14.49, a P/E/G ratio of 1.88 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 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.19). Alkermes had a net margin of 23.30% and a return on equity of 27.52%. The business had revenue of $306.51 million for the quarter, compared to analyst estimates of $307.53 million. During the same quarter in the previous year, the firm posted $0.43 earnings per share. The business's revenue was down 12.6% on a year-over-year basis. On average, research analysts anticipate that Alkermes plc will post 1.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on ALKS. Wall Street Zen lowered shares of Alkermes from a "strong-buy" rating to a "buy" rating in a research note on Monday, May 5th. HC Wainwright reiterated a "neutral" rating on shares of Alkermes in a research note on Friday, May 2nd. Cantor Fitzgerald upgraded shares of Alkermes to a "strong-buy" rating in a research note on Tuesday, May 13th. Needham & Company LLC started coverage on shares of Alkermes in a research note on Wednesday, May 28th. They issued a "buy" rating and a $45.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Alkermes from $40.00 to $52.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Alkermes has a consensus rating of "Moderate Buy" and a consensus target price of $40.00.

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.