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

Man Group plc cut its holdings in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 52.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 108,652 shares of the company's stock after selling 119,905 shares during the period. Man Group plc owned about 0.07% of Alkermes worth $3,125,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ALKS. Avoro Capital Advisors LLC acquired a new stake in shares of Alkermes during the fourth quarter valued at about $70,462,000. Norges Bank acquired a new position in Alkermes in the fourth quarter worth about $56,684,000. Nuveen Asset Management LLC grew its stake in Alkermes by 109.5% in the fourth quarter. Nuveen Asset Management LLC now owns 1,659,821 shares of the company's stock worth $47,736,000 after purchasing an additional 867,492 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Alkermes by 147.4% in the fourth 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 in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Alkermes in the fourth quarter worth about $12,293,000. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Alkermes Price Performance

Shares of NASDAQ ALKS traded up $0.58 during midday trading on Tuesday, hitting $29.93. 922,457 shares of the company's stock were exchanged, compared to its average volume of 1,755,401. The stock's 50 day moving average price is $30.13 and its 200-day moving average price is $30.83. The firm has a market cap of $4.94 billion, a P/E ratio of 13.80, a PEG ratio of 2.20 and a beta of 0.51. Alkermes plc has a twelve month low of $22.90 and a twelve month high of $36.45.

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on ALKS. The Goldman Sachs Group lifted their price target on Alkermes from $30.00 to $32.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. HC Wainwright reiterated a "neutral" rating on shares of Alkermes in a research note on Friday, May 2nd. Robert W. Baird lifted their price target on Alkermes from $38.00 to $41.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Deutsche Bank Aktiengesellschaft lifted their price target on Alkermes from $40.00 to $52.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Finally, Wall Street Zen downgraded Alkermes from a "strong-buy" rating to a "buy" rating in a research note on Monday, May 5th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $38.33.

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.