First Manhattan Co. lowered its position in Alkermes Plc (NASDAQ:ALKS) by 99.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,000 shares of the company’s stock after selling 837,894 shares during the quarter. First Manhattan Co.’s holdings in Alkermes were worth $36,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in ALKS. Meeder Asset Management Inc. grew its stake in Alkermes by 155.3% in the fourth quarter. Meeder Asset Management Inc. now owns 1,810 shares of the company’s stock worth $53,000 after purchasing an additional 1,101 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in Alkermes by 123.7% during the third quarter. Tower Research Capital LLC TRC now owns 2,908 shares of the company’s stock worth $123,000 after buying an additional 1,608 shares during the period. Quantamental Technologies LLC purchased a new stake in Alkermes during the fourth quarter worth $140,000. Nordea Investment Management AB purchased a new stake in Alkermes during the third quarter worth $183,000. Finally, LPL Financial LLC purchased a new stake in Alkermes during the third quarter worth $212,000. 97.97% of the stock is currently owned by institutional investors.
A number of research firms have weighed in on ALKS. Zacks Investment Research upgraded Alkermes from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a report on Monday, April 8th. JPMorgan Chase & Co. restated a “buy” rating on shares of Alkermes in a report on Wednesday, April 10th. ValuEngine upgraded Alkermes from a “sell” rating to a “hold” rating in a report on Monday, April 1st. TheStreet upgraded Alkermes from a “d” rating to a “c-” rating in a report on Tuesday, February 19th. Finally, BidaskClub lowered Alkermes from a “buy” rating to a “hold” rating in a report on Friday, January 25th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $43.08.
Alkermes (NASDAQ:ALKS) last issued its quarterly earnings data on Thursday, February 14th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.39. Alkermes had a negative return on equity of 0.49% and a negative net margin of 12.73%. The firm had revenue of $316.00 million during the quarter, compared to analyst estimates of $255.71 million. During the same quarter in the prior year, the business posted $0.31 EPS. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year. Analysts forecast that Alkermes Plc will post -0.41 earnings per share for the current year.
In other news, Director Paul J. Mitchell sold 1,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $33.48, for a total transaction of $33,480.00. Following the completion of the sale, the director now owns 8,000 shares in the company, valued at approximately $267,840. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Michael J. Landine sold 20,000 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $32.07, for a total value of $641,400.00. Following the sale, the senior vice president now owns 205,122 shares of the company’s stock, valued at approximately $6,578,262.54. The disclosure for this sale can be found here. In the last quarter, insiders have sold 158,000 shares of company stock valued at $5,251,200. Company insiders own 4.71% of the company’s stock.
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Alkermes Company Profile
Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in various therapeutic areas in the United States, Ireland, and internationally. The company's marketed products include ARISTADA (aripiprazole lauroxil), an extended-release intramuscular injectable suspension for the treatment of schizophrenia; VIVITROL (naltrexone for extended-release injectable suspension) for the treatment of alcohol and opioid dependence; RISPERDAL CONSTA for the treatment of schizophrenia and bipolar I disorder; INVEGA SUSTENNA for the treatment of schizophrenia and schizoaffective disorder; XEPLION, INVEGA TRINZA, and TREVICTA for treating schizophrenia; and AMPYRA (dalfampridine)/FAMPYRA (fampridine) to enhance walking in adults with multiple sclerosis (MS) who have walking disability.
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