Alkermes plc (NASDAQ:ALKS) Shares Sold by Gotham Asset Management LLC

Gotham Asset Management LLC reduced its position in Alkermes plc (NASDAQ:ALKS - Free Report) by 73.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,937 shares of the company's stock after selling 83,983 shares during the quarter. Gotham Asset Management LLC's holdings in Alkermes were worth $890,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Avoro Capital Advisors LLC acquired a new position in shares of Alkermes in the 4th quarter worth approximately $70,462,000. Norges Bank acquired a new position in Alkermes in the fourth quarter worth $56,684,000. JPMorgan Chase & Co. increased its stake in Alkermes by 147.4% during the fourth quarter. JPMorgan Chase & Co. now owns 889,472 shares of the company's stock valued at $25,581,000 after purchasing an additional 529,962 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Alkermes during the fourth quarter valued at $12,293,000. Finally, Loomis Sayles & Co. L P raised its holdings in shares of Alkermes by 22.3% during the fourth quarter. Loomis Sayles & Co. L P now owns 2,302,905 shares of the company's stock worth $66,232,000 after purchasing an additional 419,969 shares during the period. 95.21% of the stock is owned by institutional investors.

Alkermes Price Performance

Shares of NASDAQ ALKS traded up $0.22 during mid-day trading on Tuesday, reaching $31.67. 1,686,981 shares of the company traded hands, compared to its average volume of 1,761,249. Alkermes plc has a fifty-two week low of $22.90 and a fifty-two week high of $36.45. The firm has a market cap of $5.22 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 2.20 and a beta of 0.51. The stock has a fifty day simple moving average of $30.52 and a 200-day simple moving average of $30.77.

Alkermes (NASDAQ:ALKS - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.32 by ($0.19). Alkermes had a net margin of 23.57% and a return on equity of 30.80%. The firm had revenue of $306.51 million for the quarter, compared to the consensus estimate of $307.53 million. During the same period in the previous year, the business posted $0.43 earnings per share. The business's revenue for the quarter was down 12.6% compared to the same quarter last year. As a group, analysts predict that Alkermes plc will post 1.31 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Robert W. Baird lifted their price target on shares of Alkermes from $38.00 to $41.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Cantor Fitzgerald upgraded Alkermes to a "strong-buy" rating in a research note on Tuesday, May 13th. UBS Group reissued a "sector perform" rating on shares of Alkermes in a report on Monday, April 28th. HC Wainwright reaffirmed a "neutral" rating on shares of Alkermes in a report on Friday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Alkermes from $40.00 to $52.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $38.33.

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.