Sequoia Financial Advisors LLC trimmed its holdings in shares of Alkermes plc (NASDAQ:ALKS – Free Report) by 16.8% during the first quarter, Holdings Channel.com reports. The institutional investor owned 6,222 shares of the company’s stock after selling 1,252 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Alkermes were worth $205,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its position in Alkermes by 106.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,635 shares of the company’s stock valued at $47,000 after buying an additional 842 shares during the last quarter. USA Financial Formulas bought a new position in Alkermes in the 1st quarter worth about $49,000. Fifth Third Bancorp boosted its position in shares of Alkermes by 54.4% during the 1st quarter. Fifth Third Bancorp now owns 1,479 shares of the company’s stock valued at $49,000 after acquiring an additional 521 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Alkermes by 558.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,950 shares of the company’s stock valued at $85,000 after acquiring an additional 2,502 shares during the last quarter. Finally, GF Fund Management CO. LTD. bought a new stake in shares of Alkermes during the 4th quarter valued at about $98,000. 95.21% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling 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 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 owned 86,208 shares in the company, valued at approximately $2,680,206.72. This trade represents a 3.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 4.40% of the stock is currently owned by insiders.
Alkermes Stock Performance
Shares of ALKS opened at $28.75 on Friday. The stock has a 50-day simple moving average of $30.12 and a 200-day simple moving average of $30.89. The stock has a market capitalization of $4.74 billion, a PE ratio of 13.76, a PEG ratio of 1.79 and a beta of 0.44. Alkermes plc has a 1 year low of $22.90 and a 1 year high of $36.45.
Alkermes (NASDAQ:ALKS – Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.19). The firm had revenue of $306.51 million for the quarter, compared to analysts’ expectations of $307.53 million. Alkermes had a return on equity of 27.52% and a net margin of 23.30%. The firm’s quarterly revenue was down 12.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 EPS. Analysts predict that Alkermes plc will post 1.31 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on ALKS shares. HC Wainwright reissued a “neutral” rating on shares of Alkermes in a report on Friday, May 2nd. Wall Street Zen cut Alkermes from a “strong-buy” rating to a “buy” rating in a research note on Monday, May 5th. Cantor Fitzgerald upgraded Alkermes to a “strong-buy” rating in a research report on Tuesday, May 13th. Royal Bank Of Canada boosted their target price on Alkermes from $39.00 to $40.00 and gave the stock a “sector perform” rating in a report on Friday, May 2nd. 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 equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $40.00.
Check Out Our Latest Research Report on ALKS
Alkermes Profile
(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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