Segall Bryant & Hamill LLC Trims Holdings in Alkermes plc (NASDAQ:ALKS)

Segall Bryant & Hamill LLC lessened its position in Alkermes plc (NASDAQ:ALKS - Free Report) by 7.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 528,821 shares of the company's stock after selling 40,799 shares during the period. Segall Bryant & Hamill LLC owned approximately 0.32% of Alkermes worth $17,462,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted 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 purchasing an additional 842 shares in the last quarter. USA Financial Formulas bought a new position in shares of Alkermes in the first quarter valued at approximately $49,000. Fifth Third Bancorp lifted 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 purchasing an additional 521 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Alkermes in the fourth quarter valued at approximately $98,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Alkermes by 31.9% in the first quarter. GAMMA Investing LLC now owns 5,396 shares of the company's stock valued at $178,000 after purchasing an additional 1,305 shares in the last quarter. Institutional investors and hedge funds own 95.21% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ALKS. UBS Group upgraded Alkermes from a "neutral" rating to a "buy" rating and raised their target price for the company from $33.00 to $42.00 in a report on Tuesday, June 17th. Deutsche Bank Aktiengesellschaft raised their target price on Alkermes from $40.00 to $52.00 and gave the company a "buy" rating in a report on Thursday, March 27th. The Goldman Sachs Group began coverage on Alkermes in a report on Tuesday. They issued a "buy" rating and a $43.00 target price on the stock. Needham & Company LLC began coverage on Alkermes in a report on Wednesday, May 28th. They issued a "buy" rating and a $45.00 target price on the stock. Finally, Wall Street Zen lowered Alkermes from a "strong-buy" rating to a "buy" rating in a report on Monday, May 5th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $40.92.

Alkermes Stock Down 0.5%

Alkermes stock traded down $0.14 during mid-day trading on Friday, reaching $29.22. 1,398,214 shares of the company's stock were exchanged, compared to its average volume of 1,728,579. The business's fifty day simple moving average is $30.04 and its 200 day simple moving average is $30.88. The firm has a market capitalization of $4.82 billion, a PE ratio of 13.98, a P/E/G ratio of 1.82 and a beta of 0.44. Alkermes plc has a one year low of $24.48 and a one year high of $36.45.

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 the consensus estimate of $0.32 by ($0.19). The firm had revenue of $306.51 million during the quarter, compared to the consensus estimate of $307.53 million. Alkermes had a net margin of 23.30% and a return on equity of 27.52%. The business's quarterly revenue was down 12.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.43 earnings per share. On average, sell-side analysts forecast that Alkermes plc will post 1.31 earnings per share for the current year.

Insider Activity

In other Alkermes news, SVP Christian Todd Nichols sold 3,334 shares of the business's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $31.09, for a total value of $103,654.06. Following the sale, the senior vice president directly 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 filing with the SEC, which is available through the SEC website. 4.40% of the stock is currently owned by insiders.

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.