Advisors Asset Management Inc. Has $786,000 Position in Alkermes PLC (ALKS)
Advisors Asset Management Inc. increased its stake in shares of Alkermes PLC (NASDAQ:ALKS) by 131.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,195 shares of the company’s stock after buying an additional 10,324 shares during the period. Advisors Asset Management Inc.’s holdings in Alkermes PLC were worth $786,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Norges Bank acquired a new stake in Alkermes PLC during the fourth quarter valued at approximately $92,432,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in Alkermes PLC by 10.1% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 46,040 shares of the company’s stock valued at $1,574,000 after buying an additional 4,232 shares in the last quarter. GW&K Investment Management LLC boosted its stake in Alkermes PLC by 77.6% in the first quarter. GW&K Investment Management LLC now owns 190,974 shares of the company’s stock valued at $6,529,000 after buying an additional 83,416 shares in the last quarter. Teachers Advisors Inc. boosted its stake in Alkermes PLC by 0.5% in the first quarter. Teachers Advisors Inc. now owns 120,176 shares of the company’s stock valued at $4,109,000 after buying an additional 554 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in Alkermes PLC by 149.4% in the first quarter. Franklin Resources Inc. now owns 4,230,000 shares of the company’s stock valued at $144,624,000 after buying an additional 2,534,197 shares in the last quarter. Institutional investors own 95.13% of the company’s stock.
Shares of Alkermes PLC (NASDAQ:ALKS) traded down 2.108% during trading on Friday, reaching $49.925. The company had a trading volume of 554,803 shares. The stock’s market capitalization is $7.57 billion. The stock’s 50-day moving average price is $46.77 and its 200-day moving average price is $42.59. Alkermes PLC has a 12 month low of $27.14 and a 12 month high of $80.71.
Alkermes PLC (NASDAQ:ALKS) last announced its quarterly earnings data on Thursday, July 28th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.09. Alkermes PLC had a negative return on equity of 14.18% and a negative net margin of 41.19%. The firm had revenue of $195.20 million for the quarter, compared to analysts’ expectations of $174.15 million. During the same quarter in the prior year, the firm posted ($0.09) earnings per share. Alkermes PLC’s revenue for the quarter was up 28.9% compared to the same quarter last year. Equities analysts forecast that Alkermes PLC will post ($0.12) earnings per share for the current fiscal year.
Several research firms have recently commented on ALKS. Cowen and Company reissued a “buy” rating on shares of Alkermes PLC in a report on Friday. Morgan Stanley reissued a “sell” rating and issued a $41.00 price target on shares of Alkermes PLC in a report on Friday, September 2nd. Zacks Investment Research raised Alkermes PLC from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a report on Friday, August 5th. JPMorgan Chase & Co. reissued a “hold” rating and issued a $51.00 price target on shares of Alkermes PLC in a report on Friday, July 29th. Finally, Jefferies Group raised their price target on Alkermes PLC from $54.00 to $62.00 and gave the company a “buy” rating in a report on Friday, July 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $53.90.
In other news, Director Paul J. Mitchell sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $45.81, for a total transaction of $91,620.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $458,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Elliot Ehrich sold 35,199 shares of the company’s stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $51.95, for a total value of $1,828,588.05. Following the transaction, the chief marketing officer now directly owns 46,111 shares of the company’s stock, valued at $2,395,466.45. The disclosure for this sale can be found here. Insiders own 4.75% of the company’s stock.
Alkermes PLC Company Profile
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 address medical needs of patients in therapeutic areas. The Company has a portfolio of approximately 20 products and a clinical pipeline of product candidates that address central nervous system (CNS) disorders, such as schizophrenia, depression, addiction and multiple sclerosis.
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