Alkermes PLC (ALKS) Sees Large Volume Increase
Shares of Alkermes PLC (NASDAQ:ALKS) saw unusually-strong trading volume on Thursday . Approximately 825,989 shares traded hands during trading, a decline of 11% from the previous session’s volume of 928,912 shares.The stock last traded at $47.69 and had previously closed at $45.99.
Several equities research analysts recently issued reports on ALKS shares. Leerink Swann reaffirmed an “outperform” rating and set a $54.00 price target (down from $58.00) on shares of Alkermes PLC in a report on Tuesday, June 28th. Evercore ISI started coverage on shares of Alkermes PLC in a report on Thursday, May 26th. They set a “buy” rating and a $59.00 price target on the stock. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Alkermes PLC in a report on Thursday, June 2nd. Jefferies Group reaffirmed a “buy” rating on shares of Alkermes PLC in a report on Thursday, June 2nd. Finally, Morgan Stanley reaffirmed a “sell” rating on shares of Alkermes PLC in a report on Saturday, April 30th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $59.40.
The stock’s market cap is $7.26 billion. The stock has a 50-day moving average price of $43.76 and a 200 day moving average price of $42.79.
Alkermes PLC (NASDAQ:ALKS) last announced its quarterly earnings results on Thursday, April 28th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.04. The firm earned $156.80 million during the quarter, compared to analysts’ expectations of $153.64 million. During the same period in the previous year, the company posted $0.06 earnings per share. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. Analysts forecast that Alkermes PLC will post ($0.29) earnings per share for the current fiscal year.
In related news, CMO Elliot Ehrich sold 11,698 shares of the company’s stock in a transaction that occurred on Wednesday, April 13th. The shares were sold at an average price of $37.66, for a total value of $440,546.68. Following the transaction, the chief marketing officer now directly owns 52,642 shares in the company, valued at $1,982,497.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Richard F. Pops sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 12th. The stock was sold at an average price of $37.79, for a total transaction of $944,750.00. Following the completion of the transaction, the chief executive officer now owns 601,497 shares in the company, valued at $22,730,571.63. The disclosure for this sale can be found here.
Several hedge funds and institutional investors recently bought and sold shares of the company. Mitsubishi UFJ Kokusai Asset Management CO. LTD. boosted its position in Alkermes PLC by 8.1% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 18,756 shares of the company’s stock valued at $1,489,000 after buying an additional 1,411 shares during the period. Advisors Asset Management Inc. boosted its position in Alkermes PLC by 4.8% in the fourth quarter. Advisors Asset Management Inc. now owns 23,604 shares of the company’s stock valued at $1,874,000 after buying an additional 1,084 shares during the period. Oxford Asset Management bought a new position in Alkermes PLC during the fourth quarter valued at $1,910,000. Principal Financial Group Inc. boosted its position in Alkermes PLC by 0.7% in the fourth quarter. Principal Financial Group Inc. now owns 27,107 shares of the company’s stock valued at $2,152,000 after buying an additional 196 shares during the period. Finally, Quantitative Investment Management LLC boosted its position in Alkermes PLC by 13.5% in the fourth quarter. Quantitative Investment Management LLC now owns 32,700 shares of the company’s stock valued at $2,595,000 after buying an additional 3,900 shares during the period.
Alkermes Public Limited Company is a biopharmaceutical company. The Company is engaged in researching, developing and commercializing, both with partners and on its own, pharmaceutical products that are designed to meet unmet medical needs of patients in major therapeutic areas. The Company has a portfolio of more than 20 products and a clinical pipeline of product candidates being developed for the treatment of central nervous system (CNS) disorders, such as addiction, schizophrenia and depression.
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