Alkermes plc (NASDAQ:ALKS) Shares Sold by Todd Asset Management LLC

Todd Asset Management LLC lessened its holdings in Alkermes plc (NASDAQ:ALKS) by 3.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 129,613 shares of the company’s stock after selling 3,947 shares during the period. Todd Asset Management LLC owned approximately 0.08% of Alkermes worth $4,280,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. USA Financial Formulas acquired a new position in Alkermes during the 1st quarter worth about $49,000. Fifth Third Bancorp lifted its stake in Alkermes by 54.4% during the 1st quarter. Fifth Third Bancorp now owns 1,479 shares of the company’s stock worth $49,000 after acquiring an additional 521 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in Alkermes during the 4th quarter worth about $98,000. GAMMA Investing LLC lifted its stake in Alkermes by 31.9% during the 1st quarter. GAMMA Investing LLC now owns 5,396 shares of the company’s stock worth $178,000 after acquiring an additional 1,305 shares in the last quarter. Finally, Farringdon Capital Ltd. acquired a new position in Alkermes during the 4th quarter worth about $204,000. Institutional investors and hedge funds own 95.21% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on ALKS. Wall Street Zen lowered Alkermes from a “strong-buy” rating to a “buy” rating in a research note on Monday, May 5th. Robert W. Baird increased their price target on Alkermes from $38.00 to $41.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. Cantor Fitzgerald raised Alkermes to a “strong-buy” rating in a research report on Tuesday, May 13th. UBS Group raised Alkermes from a “neutral” rating to a “buy” rating and increased their price target for the company from $33.00 to $42.00 in a research report on Tuesday, June 17th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 price target on shares of Alkermes in a research report on Tuesday, July 29th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Alkermes has an average rating of “Moderate Buy” and a consensus target price of $41.08.

Alkermes Stock Performance

ALKS opened at $26.54 on Tuesday. Alkermes plc has a one year low of $25.56 and a one year high of $36.45. The company has a market cap of $4.38 billion, a P/E ratio of 12.76, a PEG ratio of 1.53 and a beta of 0.47. The business’s 50-day simple moving average is $28.77 and its 200-day simple moving average is $30.63.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.10. The firm had revenue of $390.66 million for the quarter, compared to the consensus estimate of $343.20 million. Alkermes had a return on equity of 24.86% and a net margin of 23.15%. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.16 EPS. As a group, analysts predict that Alkermes plc will post 1.31 earnings per share for the current fiscal year.

Insider Transactions at Alkermes

In related news, SVP Christian Todd Nichols sold 3,334 shares of the firm’s stock in a transaction that occurred on 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. This trade represents a 3.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 4.40% of the stock is owned by corporate 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.