Alkermes PLC (ALKS) Sees Unusually-High Trading Volume
Alkermes PLC (NASDAQ:ALKS) saw unusually-strong trading volume on Thursday . Approximately 825,989 shares changed 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.
A number of research analysts have issued reports on ALKS shares. Leerink Swann reiterated a “buy” rating on shares of Alkermes PLC in a research note on Thursday, April 21st. Morgan Stanley reiterated a “sell” rating on shares of Alkermes PLC in a research note on Saturday, April 30th. Cowen and Company started coverage on Alkermes PLC in a research note on Thursday, May 5th. They set a “market perform” rating for the company. Evercore ISI began coverage on Alkermes PLC in a research note on Thursday, May 26th. They set a “buy” rating and a $59.00 price objective for the company. Finally, Credit Suisse Group AG restated a “buy” rating on shares of Alkermes PLC in a research note on Thursday, June 2nd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $59.40.
The stock’s market capitalization is $7.40 billion. The company has a 50 day moving average of $44.04 and a 200 day moving average of $42.58.
Alkermes PLC (NASDAQ:ALKS) last announced its earnings results on Thursday, April 28th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.04. During the same period last year, the business posted $0.06 EPS. The company had revenue of $156.80 million for the quarter, compared to the consensus estimate of $153.64 million. The firm’s revenue was down 2.7% compared to the same quarter last year. On average, equities research analysts forecast that Alkermes PLC will post ($0.29) EPS for the current fiscal year.
In other Alkermes PLC news, CEO Richard F. Pops sold 25,000 shares of the stock in a transaction 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 sale, the chief executive officer now owns 601,497 shares of the company’s stock, valued at approximately $22,730,571.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Elliot Ehrich sold 11,698 shares of the stock in a transaction 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 sale, the chief marketing officer now directly owns 52,642 shares in the company, valued at approximately $1,982,497.72. The disclosure for this sale can be found here.
A number of hedge funds recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its stake in shares of Alkermes PLC by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 161,429 shares of the company’s stock valued at $12,813,000 after buying an additional 3,016 shares during the period. Advisors Asset Management Inc. boosted its stake in shares of 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. Atlantic Trust Group LLC boosted its stake in shares of Alkermes PLC by 0.9% in the fourth quarter. Atlantic Trust Group LLC now owns 156,668 shares of the company’s stock valued at $12,436,000 after buying an additional 1,393 shares during the period. Century Capital Management LLC bought a new stake in shares of Alkermes PLC during the fourth quarter valued at about $4,705,000. Finally, Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its stake in shares of 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 in the last quarter.
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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