Tredje AP fonden increased its stake in shares of Alkermes PLC (NASDAQ:ALKS) by 85.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 30,510 shares of the company’s stock after purchasing an additional 14,060 shares during the quarter. Tredje AP fonden’s holdings in Alkermes PLC were worth $1,769,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC increased its position in shares of Alkermes PLC by 0.4% during the 1st quarter. FMR LLC now owns 22,882,118 shares of the company’s stock valued at $1,338,604,000 after purchasing an additional 86,546 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Alkermes PLC by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 12,096,635 shares of the company’s stock valued at $707,654,000 after purchasing an additional 497,421 shares during the last quarter. BlackRock Inc. increased its position in shares of Alkermes PLC by 5,927.5% during the 1st quarter. BlackRock Inc. now owns 10,292,601 shares of the company’s stock valued at $602,115,000 after purchasing an additional 10,121,839 shares during the last quarter. Primecap Management Co. CA increased its position in shares of Alkermes PLC by 23.2% during the 1st quarter. Primecap Management Co. CA now owns 7,856,543 shares of the company’s stock valued at $459,608,000 after purchasing an additional 1,480,273 shares during the last quarter. Finally, Woodford Investment Management Ltd increased its position in shares of Alkermes PLC by 0.3% during the 1st quarter. Woodford Investment Management Ltd now owns 7,470,528 shares of the company’s stock valued at $437,026,000 after purchasing an additional 19,400 shares during the last quarter. 99.06% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on ALKS. ValuEngine raised Alkermes PLC from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Jefferies Group LLC set a $69.00 target price on Alkermes PLC and gave the company a “buy” rating in a research report on Friday, August 25th. BidaskClub downgraded Alkermes PLC from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 9th. Zacks Investment Research raised Alkermes PLC from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, J P Morgan Chase & Co set a $78.00 price objective on Alkermes PLC and gave the company a “buy” rating in a research report on Saturday, July 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. Alkermes PLC currently has a consensus rating of “Hold” and an average target price of $62.89.
In other news, Director Paul J. Mitchell sold 1,500 shares of Alkermes PLC stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $54.91, for a total value of $82,365.00. Following the completion of the sale, the director now directly owns 9,500 shares of the company’s stock, valued at $521,645. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 4,500 shares of company stock valued at $245,685 over the last ninety days. Insiders own 5.34% of the company’s stock.
Shares of Alkermes PLC (ALKS) opened at 52.44 on Tuesday. Alkermes PLC has a one year low of $41.93 and a one year high of $63.40. The firm has a 50 day moving average price of $52.24 and a 200 day moving average price of $56.71. The stock’s market capitalization is $8.06 billion.
Alkermes PLC (NASDAQ:ALKS) last issued its quarterly earnings data on Thursday, July 27th. The company reported $0.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.02. Alkermes PLC had a negative return on equity of 9.12% and a negative net margin of 24.33%. The business had revenue of $218.80 million during the quarter, compared to analysts’ expectations of $216.54 million. During the same period in the previous year, the firm posted ($0.01) earnings per share. The company’s revenue was up 12.1% on a year-over-year basis. Analysts predict that Alkermes PLC will post ($0.04) earnings per share for the current fiscal year.
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Alkermes PLC Company Profile
Alkermes plc is a biopharmaceutical company. The Company is engaged in the researching, developing and commercializing pharmaceutical products that are designed to address medical needs of patients in therapeutic areas. The Company has a portfolio of marketed drug products and a clinical pipeline of products that address central nervous system (CNS) disorders, such as schizophrenia, depression, addiction and multiple sclerosis (MS).
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