A.R.T. Advisors LLC Purchases Shares of 74,900 Alkermes PLC (ALKS)
A.R.T. Advisors LLC purchased a new position in shares of Alkermes PLC (NASDAQ:ALKS) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 74,900 shares of the company’s stock, valued at approximately $4,162,000.
A number of other hedge funds have also bought and sold shares of ALKS. Sumitomo Mitsui Asset Management Company LTD boosted its stake in Alkermes PLC by 2.1% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 9,651 shares of the company’s stock worth $417,000 after buying an additional 196 shares in the last quarter. Northeast Investment Management purchased a new stake in Alkermes PLC during the second quarter worth approximately $227,000. Neuberger Berman Group LLC boosted its stake in Alkermes PLC by 38.0% in the second quarter. Neuberger Berman Group LLC now owns 9,119 shares of the company’s stock worth $394,000 after buying an additional 2,509 shares during the period. Principal Financial Group Inc. boosted its stake in Alkermes PLC by 16.6% in the second quarter. Principal Financial Group Inc. now owns 31,640 shares of the company’s stock worth $1,367,000 after buying an additional 4,496 shares during the period. Finally, Iguana Healthcare Management LLC purchased a new stake in Alkermes PLC during the second quarter worth approximately $1,297,000. Institutional investors own 95.52% of the company’s stock.
Alkermes PLC (NASDAQ:ALKS) traded down 2.36% during trading on Thursday, hitting $55.55. The company had a trading volume of 985,854 shares. The company’s market cap is $8.44 billion. The company’s 50 day moving average price is $55.81 and its 200-day moving average price is $52.01. Alkermes PLC has a 12 month low of $27.14 and a 12 month high of $60.74.
Alkermes PLC (NASDAQ:ALKS) last posted its quarterly earnings data on Wednesday, February 15th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.11. The company earned $213.50 million during the quarter, compared to analysts’ expectations of $206.38 million. Alkermes PLC had a negative net margin of 36.92% and a negative return on equity of 12.75%. The firm’s revenue for the quarter was up 30.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.14) EPS. Equities analysts expect that Alkermes PLC will post ($0.20) earnings per share for the current year.
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ALKS has been the topic of a number of research analyst reports. Cowen and Company reiterated a “buy” rating on shares of Alkermes PLC in a research report on Wednesday, November 2nd. Cantor Fitzgerald reiterated a “neutral” rating and set a $52.00 target price on shares of Alkermes PLC in a research report on Wednesday, December 21st. Jefferies Group LLC reiterated a “buy” rating and set a $70.00 target price on shares of Alkermes PLC in a research report on Thursday, November 17th. Credit Suisse Group lifted their target price on Alkermes PLC from $52.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, October 21st. Finally, J P Morgan Chase & Co upgraded Alkermes PLC from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $51.00 to $78.00 in a research report on Friday, October 21st. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Alkermes PLC has an average rating of “Buy” and a consensus price target of $60.75.
In other Alkermes PLC news, SVP James M. Frates sold 23,731 shares of the company’s stock in a transaction dated Wednesday, December 7th. The shares were sold at an average price of $56.28, for a total value of $1,335,580.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael J. Landine sold 10,000 shares of the company’s stock in a transaction dated Wednesday, November 30th. The shares were sold at an average price of $57.51, for a total transaction of $575,100.00. Following the completion of the transaction, the senior vice president now directly owns 165,659 shares of the company’s stock, valued at $9,527,049.09. The disclosure for this sale can be found here. Over the last three months, insiders sold 242,800 shares of company stock valued at $13,827,583. 4.75% of the stock is currently owned by corporate insiders.
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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