Alkermes plc (NASDAQ:ALKS) Position Reduced by Man Group plc

Man Group plc trimmed its holdings in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 52.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 108,652 shares of the company's stock after selling 119,905 shares during the period. Man Group plc owned 0.07% of Alkermes worth $3,125,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC acquired a new stake in shares of Alkermes in the fourth quarter valued at about $25,000. EverSource Wealth Advisors LLC grew its position in Alkermes by 106.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,635 shares of the company's stock valued at $47,000 after acquiring an additional 842 shares in the last quarter. Blue Trust Inc. grew its position in Alkermes by 2,231.5% in the fourth quarter. Blue Trust Inc. now owns 1,702 shares of the company's stock valued at $49,000 after acquiring an additional 1,629 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Alkermes by 558.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,950 shares of the company's stock valued at $85,000 after purchasing an additional 2,502 shares during the period. Finally, Cornerstone Investment Partners LLC acquired a new position in shares of Alkermes during the fourth quarter worth $203,000. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ALKS shares. The Goldman Sachs Group raised their price target on shares of Alkermes from $30.00 to $32.00 and gave the company a "buy" rating in a report on Friday, February 14th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Alkermes from $40.00 to $52.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Cantor Fitzgerald raised Alkermes to a "strong-buy" rating in a research report on Tuesday, May 13th. UBS Group reiterated a "sector perform" rating on shares of Alkermes in a research note on Monday, April 28th. Finally, Wall Street Zen downgraded Alkermes from a "strong-buy" rating to a "buy" rating in a report on Monday, May 5th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $38.85.

Alkermes Stock Performance

Shares of ALKS traded up $0.12 during mid-day trading on Wednesday, reaching $30.02. 352,131 shares of the company's stock traded hands, compared to its average volume of 1,757,548. The business's 50-day moving average price is $30.05 and its 200-day moving average price is $30.83. The stock has a market capitalization of $4.95 billion, a P/E ratio of 13.85, a price-to-earnings-growth ratio of 2.20 and a beta of 0.51. Alkermes plc has a 12 month low of $22.90 and a 12 month high of $36.45.

Alkermes (NASDAQ:ALKS - Get Free Report) last posted its earnings results 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 23.57% and a return on equity of 30.80%. The business had revenue of $306.51 million during the quarter, compared to analyst estimates of $307.53 million. During the same quarter in the prior year, the business earned $0.43 earnings per share. The firm's revenue was down 12.6% compared to the same quarter last year. Equities research analysts anticipate that Alkermes plc will post 1.31 EPS for the current year.

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.