Federated Hermes Inc. Sells 274,659 Shares of Alkermes plc (NASDAQ:ALKS)

Federated Hermes Inc. lessened 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 13F filing with the Securities and Exchange Commission. The fund owned 79,590 shares of the company's stock after selling 274,659 shares during the quarter. Federated Hermes Inc.'s holdings in Alkermes were worth $2,628,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of ALKS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings 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 buying an additional 311 shares in the last quarter. Hohimer Wealth Management LLC raised its holdings in shares of Alkermes by 3.8% during the 1st quarter. Hohimer Wealth Management LLC now owns 12,362 shares of the company's stock valued at $408,000 after buying an additional 450 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of Alkermes by 54.4% during the 1st quarter. Fifth Third Bancorp now owns 1,479 shares of the company's stock valued at $49,000 after buying an additional 521 shares in the last quarter. O Shaughnessy Asset Management LLC raised its holdings in shares of Alkermes by 3.9% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 14,203 shares of the company's stock valued at $408,000 after buying an additional 532 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Alkermes by 1.8% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 39,035 shares of the company's stock valued at $1,289,000 after buying an additional 699 shares in the last quarter. Institutional investors own 95.21% of the company's stock.

Alkermes Stock Performance

Shares of ALKS stock opened at $26.64 on Tuesday. The firm has a market cap of $4.40 billion, a P/E ratio of 12.81, a P/E/G ratio of 1.52 and a beta of 0.47. Alkermes plc has a fifty-two week low of $25.56 and a fifty-two week high of $36.45. The business's 50 day moving average price is $29.16 and its 200-day moving average price is $30.76.

Alkermes (NASDAQ:ALKS - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates 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 return on equity of 24.86% and a net margin of 23.15%. The business's quarterly revenue was down 2.1% compared to the same quarter last year. During the same period last year, the company earned $1.16 EPS. As a group, equities analysts predict that Alkermes plc will post 1.31 EPS for the current year.

Insider Buying and Selling at Alkermes

In related news, SVP Christian Todd Nichols sold 3,334 shares of Alkermes stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $31.09, for a total transaction 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. The trade was a 3.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 4.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Wall Street Zen cut Alkermes from a "strong-buy" rating to a "buy" rating in a report on Monday, May 5th. Cantor Fitzgerald raised Alkermes to a "strong-buy" rating in a report on Tuesday, May 13th. HC Wainwright reissued a "neutral" rating and set a $46.00 price objective on shares of Alkermes in a report on Monday, July 21st. Royal Bank Of Canada raised their price objective on Alkermes from $40.00 to $42.00 and gave the company a "sector perform" rating in a report on Wednesday, July 30th. Finally, Robert W. Baird raised their price objective on Alkermes from $38.00 to $41.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Alkermes has an average rating of "Moderate Buy" and an average 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.

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