Robeco Institutional Asset Management B.V. Trims Stock Holdings in Alkermes plc (NASDAQ:ALKS)

Robeco Institutional Asset Management B.V. reduced its position in Alkermes plc (NASDAQ:ALKS - Free Report) by 37.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. RTW Investments LP increased its position in Alkermes by 13.6% during the fourth quarter. RTW Investments LP now owns 7,557,835 shares of the company's stock worth $217,363,000 after buying an additional 903,802 shares in the last quarter. Renaissance Technologies LLC increased its position in Alkermes by 1.1% during the fourth quarter. Renaissance Technologies LLC now owns 5,478,728 shares of the company's stock worth $157,568,000 after buying an additional 57,697 shares in the last quarter. American Century Companies Inc. increased its position in Alkermes by 6.5% during the fourth quarter. American Century Companies Inc. now owns 3,450,707 shares of the company's stock worth $99,242,000 after buying an additional 209,740 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Alkermes by 4.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,019,508 shares of the company's stock worth $86,842,000 after buying an additional 128,701 shares in the last quarter. Finally, Avoro Capital Advisors LLC purchased a new position in Alkermes during the fourth quarter worth $70,462,000. Hedge funds and other institutional investors own 95.21% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on ALKS. Deutsche Bank Aktiengesellschaft raised their price target on Alkermes from $40.00 to $52.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Robert W. Baird raised their price target on Alkermes from $38.00 to $41.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Royal Bank Of Canada raised their price target on Alkermes from $39.00 to $40.00 and gave the stock a "sector perform" rating in a research report on Friday, May 2nd. UBS Group raised Alkermes from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $33.00 to $42.00 in a research report on Tuesday, June 17th. Finally, Wall Street Zen downgraded Alkermes from a "strong-buy" rating to a "buy" rating in a research report on Monday, May 5th. Three 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, the company presently has an average rating of "Moderate Buy" and a consensus target price of $40.00.

Insider Activity at Alkermes

In other Alkermes news, SVP Christian Todd Nichols sold 3,334 shares of the business's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $31.09, for a total transaction of $103,654.06. Following the transaction, the senior vice president owned 86,208 shares in the company, valued at $2,680,206.72. The trade was a 3.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.40% of the stock is currently owned by corporate insiders.

Alkermes Price Performance

ALKS stock traded down $0.25 during trading on Friday, reaching $28.75. 1,122,189 shares of the stock traded hands, compared to its average volume of 1,737,488. The business's 50 day moving average price is $30.12 and its 200-day moving average price is $30.89. Alkermes plc has a 52-week low of $22.90 and a 52-week high of $36.45. The firm has a market capitalization of $4.74 billion, a PE ratio of 13.76, a P/E/G ratio of 1.79 and a beta of 0.44.

Alkermes (NASDAQ:ALKS - Get Free Report) last issued 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 analyst estimates of $307.53 million. Alkermes had a return on equity of 27.52% and a net margin of 23.30%. The company's revenue for the quarter was down 12.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.43 EPS. On average, equities research analysts predict that Alkermes plc will post 1.31 earnings per share for the current year.

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.