Segall Bryant & Hamill LLC decreased its stake in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 7.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 528,821 shares of the company's stock after selling 40,799 shares during the period. Segall Bryant & Hamill LLC owned 0.32% of Alkermes worth $17,462,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. RTW Investments LP grew its position in shares of Alkermes by 13.6% in the fourth quarter. RTW Investments LP now owns 7,557,835 shares of the company's stock valued at $217,363,000 after purchasing an additional 903,802 shares during the period. Renaissance Technologies LLC grew its position in shares of Alkermes by 1.1% in the fourth quarter. Renaissance Technologies LLC now owns 5,478,728 shares of the company's stock valued at $157,568,000 after purchasing an additional 57,697 shares during the period. American Century Companies Inc. grew its position in shares of Alkermes by 6.5% in the fourth quarter. American Century Companies Inc. now owns 3,450,707 shares of the company's stock valued at $99,242,000 after purchasing an additional 209,740 shares during the period. Dimensional Fund Advisors LP grew 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 valued at $86,842,000 after acquiring an additional 128,701 shares during the period. Finally, Avoro Capital Advisors LLC purchased a new stake in Alkermes during the fourth quarter valued at about $70,462,000. Hedge funds and other institutional investors own 95.21% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on the company. Needham & Company LLC began coverage on Alkermes in a research report on Wednesday, May 28th. They set a "buy" rating and a $45.00 price target for the company. Deutsche Bank Aktiengesellschaft boosted 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. Royal Bank Of Canada boosted their price target on Alkermes from $39.00 to $40.00 and gave the stock a "sector perform" rating in a research note on Friday, May 2nd. The Goldman Sachs Group assumed coverage on Alkermes in a research note on Tuesday, July 15th. They issued a "buy" rating and a $43.00 price target on the stock. Finally, UBS Group upgraded Alkermes from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $33.00 to $42.00 in a research note on Tuesday, June 17th. Three 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $40.92.
View Our Latest Stock Report on Alkermes
Alkermes Stock Down 0.5%
ALKS traded down $0.14 during trading on Friday, reaching $29.22. The stock had a trading volume of 1,398,214 shares, compared to its average volume of 1,727,411. The firm has a market capitalization of $4.82 billion, a price-to-earnings ratio of 13.98, a price-to-earnings-growth ratio of 1.82 and a beta of 0.44. Alkermes plc has a 1-year low of $24.48 and a 1-year high of $36.45. The stock has a 50 day moving average of $30.03 and a two-hundred day moving average of $30.90.
Alkermes (NASDAQ:ALKS - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.19). Alkermes had a return on equity of 27.52% and a net margin of 23.30%. The firm had revenue of $306.51 million during the quarter, compared to analyst estimates of $307.53 million. During the same quarter last year, the company earned $0.43 earnings per share. The business's revenue for the quarter was down 12.6% on a year-over-year basis. On average, research analysts forecast that Alkermes plc will post 1.31 EPS for the current fiscal year.
Insider Transactions at Alkermes
In other news, SVP Christian Todd Nichols sold 3,334 shares of the company's stock in a transaction 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 transaction, the senior vice president directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.40% of the stock is currently owned by company insiders.
Alkermes Profile
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Free Report)
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.
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