Federated Hermes Inc. Has $2.63 Million Position in Alkermes plc (NASDAQ:ALKS)

Federated Hermes Inc. trimmed its holdings in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 77.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 79,590 shares of the company's stock after selling 274,659 shares during the period. Federated Hermes Inc.'s holdings in Alkermes were worth $2,628,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in 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. Ritholtz Wealth Management purchased a new position in Alkermes in the 1st quarter valued at about $348,000. Victory Capital Management Inc. boosted its position in Alkermes by 30.9% in the 1st quarter. Victory Capital Management Inc. now owns 120,997 shares of the company's stock valued at $3,995,000 after buying an additional 28,596 shares during the last quarter. GAMMA Investing LLC boosted its position in Alkermes by 31.9% in the 1st quarter. GAMMA Investing LLC now owns 5,396 shares of the company's stock valued at $178,000 after buying an additional 1,305 shares during the last quarter. Finally, Captrust Financial Advisors boosted its position in Alkermes by 9.7% in the 4th quarter. Captrust Financial Advisors now owns 18,362 shares of the company's stock valued at $528,000 after buying an additional 1,619 shares during the last quarter. 95.21% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Christian Todd Nichols sold 3,334 shares of the firm's stock in a transaction that occurred 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 transaction, the senior vice president owned 86,208 shares of the company's stock, valued at approximately $2,680,206.72. This trade represents a 3.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.40% of the company's stock.

Alkermes Trading Up 0.4%

ALKS stock traded up $0.12 on Friday, hitting $26.72. 399,668 shares of the company's stock traded hands, compared to its average volume of 1,780,501. The stock has a market cap of $4.41 billion, a price-to-earnings ratio of 12.85, a P/E/G ratio of 1.52 and a beta of 0.47. Alkermes plc has a 1-year low of $25.56 and a 1-year high of $36.45. The stock has a fifty day moving average of $28.95 and a 200-day moving average of $30.69.

Alkermes (NASDAQ:ALKS - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.10. The firm had revenue of $390.66 million for the quarter, compared to analyst estimates of $343.20 million. Alkermes had a net margin of 23.15% and a return on equity of 24.86%. The firm's quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.16 earnings per share. On average, equities research analysts anticipate that Alkermes plc will post 1.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ALKS has been the subject of a number of analyst reports. The Goldman Sachs Group initiated coverage on shares of Alkermes in a research report on Tuesday, July 15th. They issued a "buy" rating and a $43.00 price objective for the company. Wall Street Zen cut shares of Alkermes from a "strong-buy" rating to a "buy" rating in a research report on Monday, May 5th. Cantor Fitzgerald raised shares of Alkermes to a "strong-buy" rating in a research report on Tuesday, May 13th. Robert W. Baird upped their price objective on shares of Alkermes from $38.00 to $41.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Finally, UBS Group raised shares of Alkermes from a "neutral" rating to a "buy" rating and upped their price objective for the company from $33.00 to $42.00 in a research report on Tuesday, June 17th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $41.08.

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.