Robeco Institutional Asset Management B.V. Sells 45,636 Shares of Alkermes plc (NASDAQ:ALKS)

Robeco Institutional Asset Management B.V. cut its holdings in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 37.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,853 shares of the company's stock after selling 45,636 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in Alkermes were worth $2,538,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of ALKS. USA Financial Formulas acquired a new position in Alkermes in the first quarter worth $49,000. Fifth Third Bancorp raised its holdings in shares of 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 buying an additional 521 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Alkermes by 106.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,635 shares of the company's stock worth $47,000 after buying an additional 842 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in Alkermes by 558.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,950 shares of the company's stock worth $85,000 after buying an additional 2,502 shares in the last quarter. Finally, GF Fund Management CO. LTD. bought a new stake in Alkermes during the 4th quarter worth about $98,000. 95.21% of the stock is currently owned by institutional investors.

Alkermes Trading Down 0.9%

Shares of NASDAQ:ALKS traded down $0.25 during midday trading on Thursday, hitting $28.75. The company had a trading volume of 1,122,189 shares, compared to its average volume of 1,733,696. Alkermes plc has a 12 month low of $22.90 and a 12 month high of $36.45. The firm has a fifty day simple moving average of $30.08 and a 200 day simple moving average of $30.91. The stock has a market cap of $4.74 billion, a price-to-earnings ratio of 13.76, a PEG ratio of 1.80 and a beta of 0.44.

Alkermes (NASDAQ:ALKS - Get Free Report) last issued its 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). The company had revenue of $306.51 million for the quarter, compared to the consensus estimate of $307.53 million. Alkermes had a return on equity of 27.52% and a net margin of 23.30%. Alkermes's quarterly revenue was down 12.6% on a year-over-year basis. During the same quarter last year, the business posted $0.43 EPS. Equities analysts forecast that Alkermes plc will post 1.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alkermes news, SVP Christian Todd Nichols sold 3,334 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $31.09, for a total value of $103,654.06. Following the completion of the sale, the senior vice president owned 86,208 shares of the company's stock, valued at approximately $2,680,206.72. This represents a 3.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 4.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. UBS Group raised shares of Alkermes from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $33.00 to $42.00 in a research note on Tuesday, June 17th. Cantor Fitzgerald raised shares of Alkermes to a "strong-buy" rating in a report on Tuesday, May 13th. Wall Street Zen cut shares of Alkermes from a "strong-buy" rating to a "buy" rating in a research report on Monday, May 5th. HC Wainwright reiterated a "neutral" rating on shares of Alkermes in a research report on Friday, May 2nd. Finally, Royal Bank Of Canada lifted their target price on Alkermes from $39.00 to $40.00 and gave the company a "sector perform" rating in a research note on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Alkermes currently has a consensus rating of "Moderate Buy" and an average price target of $40.00.

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.