Voloridge Investment Management LLC Sells 96,371 Shares of Alkermes plc (NASDAQ:ALKS)

Voloridge Investment Management LLC decreased its position in Alkermes plc (NASDAQ:ALKS) by 22.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 326,369 shares of the company’s stock after selling 96,371 shares during the quarter. Voloridge Investment Management LLC’s holdings in Alkermes were worth $9,386,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Natixis Advisors LLC raised its position in shares of Alkermes by 36.8% in the fourth quarter. Natixis Advisors LLC now owns 49,922 shares of the company’s stock valued at $1,436,000 after purchasing an additional 13,432 shares during the period. JPMorgan Chase & Co. increased its position in Alkermes by 147.4% during the fourth quarter. JPMorgan Chase & Co. now owns 889,472 shares of the company’s stock worth $25,581,000 after acquiring an additional 529,962 shares during the period. Barclays PLC increased its position in Alkermes by 108.8% during the third quarter. Barclays PLC now owns 423,931 shares of the company’s stock worth $11,867,000 after acquiring an additional 220,893 shares during the period. Savant Capital LLC increased its position in Alkermes by 11.6% during the fourth quarter. Savant Capital LLC now owns 11,075 shares of the company’s stock worth $319,000 after acquiring an additional 1,152 shares during the period. Finally, Smartleaf Asset Management LLC increased its position in Alkermes by 558.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,950 shares of the company’s stock worth $85,000 after acquiring an additional 2,502 shares during the period. Institutional investors own 95.21% of the company’s stock.

Alkermes Price Performance

Shares of Alkermes stock opened at $29.35 on Friday. The firm has a market capitalization of $4.84 billion, a PE ratio of 13.53, a price-to-earnings-growth ratio of 2.20 and a beta of 0.51. The company’s fifty day moving average price is $30.23 and its two-hundred day moving average price is $30.82. Alkermes plc has a 52-week low of $22.90 and a 52-week high of $36.45.

Alkermes (NASDAQ:ALKS) last issued its earnings results on Thursday, May 1st. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.19). Alkermes had a net margin of 23.57% and a return on equity of 30.80%. The firm had revenue of $306.51 million during the quarter, compared to analyst estimates of $307.53 million. During the same quarter in the prior year, the firm posted $0.43 EPS. The firm’s revenue for the quarter was down 12.6% on a year-over-year basis. Analysts predict that Alkermes plc will post 1.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. HC Wainwright reaffirmed a “neutral” rating on shares of Alkermes in a research report on Friday, May 2nd. Cantor Fitzgerald raised shares of Alkermes to a “strong-buy” rating in a research report on Tuesday, May 13th. Robert W. Baird boosted their target price on shares of Alkermes from $38.00 to $41.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. UBS Group reaffirmed a “sector perform” rating on shares of Alkermes in a research report on Monday, April 28th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Alkermes from $40.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Alkermes has a consensus rating of “Moderate Buy” and an average target price of $38.33.

Alkermes Profile

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.