Alkermes plc (NASDAQ:ALKS) Shares Sold by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp reduced its holdings in Alkermes plc by 28.7% in the first quarter, selling 95,622 shares and owning approximately $7.83 million worth of the stock afterwards.
• Equities analysts have a consensus rating of “Moderate Buy” for Alkermes, with most analysts predicting growth and setting an average target price of $41.08.
• Alkermes reported earnings of $0.52 per share for the last quarter, exceeding estimates by $0.10, despite a 2.1% year-over-year revenue decline.

Mackenzie Financial Corp trimmed its position in Alkermes plc (NASDAQ:ALKS - Free Report) by 28.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 237,004 shares of the company's stock after selling 95,622 shares during the period. Mackenzie Financial Corp owned 0.14% of Alkermes worth $7,826,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently 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% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 100,032 shares of the company's stock worth $2,877,000 after acquiring an additional 311 shares during the last quarter. Hohimer Wealth Management LLC grew its holdings in shares of Alkermes by 3.8% during the first quarter. Hohimer Wealth Management LLC now owns 12,362 shares of the company's stock worth $408,000 after buying an additional 450 shares during the last quarter. Fifth Third Bancorp lifted its holdings in Alkermes by 54.4% in the first quarter. Fifth Third Bancorp now owns 1,479 shares of the company's stock valued at $49,000 after acquiring an additional 521 shares during the period. O Shaughnessy Asset Management LLC increased its holdings in Alkermes by 3.9% in the fourth 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 boosted its stake 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 worth $1,289,000 after purchasing an additional 699 shares during the last quarter. Hedge funds and other institutional investors own 95.21% of the company's stock.

Insider Activity at Alkermes

In other news, SVP Christian Todd Nichols sold 3,334 shares of Alkermes stock in a transaction dated 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 transaction, the senior vice president owned 86,208 shares in the company, valued at approximately $2,680,206.72. This trade represents a 3.72% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.40% of the stock is currently owned by corporate insiders.

Alkermes Trading Down 0.5%

Shares of NASDAQ ALKS traded down $0.13 during mid-day trading on Tuesday, reaching $26.51. The company had a trading volume of 778,638 shares, compared to its average volume of 1,792,090. The stock has a market cap of $4.38 billion, a price-to-earnings ratio of 12.74, a price-to-earnings-growth ratio of 1.52 and a beta of 0.47. The business's 50-day moving average is $29.16 and its 200-day moving average is $30.76. Alkermes plc has a 52 week low of $25.56 and a 52 week high of $36.45.

Alkermes (NASDAQ:ALKS - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.10. The firm had revenue of $390.66 million during 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%. Alkermes's revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.16 EPS. As a group, equities research analysts forecast that Alkermes plc will post 1.31 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on ALKS. Cantor Fitzgerald raised shares of Alkermes to a "strong-buy" rating in a research report on Tuesday, May 13th. The Goldman Sachs Group initiated coverage on Alkermes in a research report on Tuesday, July 15th. They set a "buy" rating and a $43.00 price objective for the company. Needham & Company LLC reissued a "buy" rating and set a $45.00 target price on shares of Alkermes in a research report on Tuesday, July 29th. Royal Bank Of Canada upped their target price on shares of Alkermes from $40.00 to $42.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 30th. Finally, HC Wainwright restated a "neutral" rating and set a $46.00 price objective on shares of Alkermes in a research report on Monday, July 21st. Three investment 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 company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $41.08.

Alkermes Company 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.