Rafferty Asset Management LLC Sells 45,877 Shares of Alkermes plc (NASDAQ:ALKS)

Rafferty Asset Management LLC reduced its position in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 18.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 209,580 shares of the company's stock after selling 45,877 shares during the period. Rafferty Asset Management LLC owned approximately 0.13% of Alkermes worth $6,028,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of ALKS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Alkermes by 0.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 100,032 shares of the company's stock worth $2,877,000 after purchasing an additional 311 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in Alkermes by 4.4% during the fourth quarter. CIBC Asset Management Inc now owns 9,155 shares of the company's stock worth $263,000 after buying an additional 384 shares in the last quarter. O Shaughnessy Asset Management LLC grew its position in Alkermes by 3.9% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 14,203 shares of the company's stock worth $408,000 after buying an additional 532 shares during the last quarter. Sei Investments Co. grew its position in Alkermes by 1.1% in the fourth quarter. Sei Investments Co. now owns 75,394 shares of the company's stock worth $2,168,000 after buying an additional 828 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of 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 buying an additional 842 shares in the last quarter. 95.21% of the stock is owned by institutional investors and hedge funds.

Alkermes Trading Down 1.0%

NASDAQ:ALKS traded down $0.31 on Friday, hitting $29.75. 166,872 shares of the company's stock traded hands, compared to its average volume of 1,703,869. The company has a market cap of $4.90 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 2.20 and a beta of 0.51. Alkermes plc has a 1 year low of $22.90 and a 1 year high of $36.45. The firm has a 50-day moving average price of $30.33 and a 200-day moving average price of $30.80.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ALKS shares. Deutsche Bank Aktiengesellschaft raised their price objective on Alkermes from $40.00 to $52.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. UBS Group reiterated a "sector perform" rating on shares of Alkermes in a research report on Monday, April 28th. 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. Royal Bank of Canada upped their price objective on shares of Alkermes from $39.00 to $40.00 and gave the company a "sector perform" rating in a research note on Friday, May 2nd. Finally, Wall Street Zen cut shares of 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, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.