Rhumbline Advisers trimmed its holdings in Alkermes plc (NASDAQ:ALKS) by 0.7% during the second quarter, Holdings Channel reports. The institutional investor owned 162,638 shares of the company’s stock after selling 1,133 shares during the period. Rhumbline Advisers’ holdings in Alkermes were worth $3,988,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the business. Teacher Retirement System of Texas boosted its stake in Alkermes by 17.5% in the 2nd quarter. Teacher Retirement System of Texas now owns 20,923 shares of the company’s stock worth $513,000 after buying an additional 3,117 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in Alkermes by 20.1% in the 2nd quarter. Handelsbanken Fonder AB now owns 36,500 shares of the company’s stock worth $895,000 after buying an additional 6,100 shares during the last quarter. Hussman Strategic Advisors Inc. acquired a new stake in Alkermes in the 2nd quarter worth about $760,000. Dupont Capital Management Corp acquired a new stake in Alkermes in the 2nd quarter worth about $908,000. Finally, Cornerstone Investment Partners LLC acquired a new stake in Alkermes in the 2nd quarter worth about $229,000.
A number of equities analysts have recently commented on the company. Mizuho restated a “buy” rating and issued a $36.00 price objective (up from $33.00) on shares of Alkermes in a report on Friday, September 10th. HC Wainwright raised their price objective on Alkermes from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Wednesday, June 2nd. SVB Leerink raised their price objective on Alkermes from $23.00 to $25.00 and gave the stock a “market perform” rating in a report on Thursday, July 29th. Finally, Bank of America downgraded Alkermes from a “neutral” rating to an “underperform” rating and raised their price objective for the stock from $25.00 to $27.00 in a report on Thursday, September 2nd. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $28.25.
Alkermes (NASDAQ:ALKS) last announced its earnings results on Tuesday, July 27th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.12 by $0.18. The business had revenue of $303.72 million for the quarter, compared to the consensus estimate of $277.83 million. Alkermes had a positive return on equity of 3.21% and a negative net margin of 5.71%. Analysts predict that Alkermes plc will post 0.07 earnings per share for the current year.
In other Alkermes news, SVP David Joseph Gaffin sold 14,000 shares of Alkermes stock in a transaction that occurred on Thursday, July 29th. The stock was sold at an average price of $26.00, for a total transaction of $364,000.00. Following the sale, the senior vice president now directly owns 88,597 shares in the company, valued at approximately $2,303,522. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Emily Peterson Alva acquired 1,650 shares of the company’s stock in a transaction on Monday, August 23rd. The shares were acquired at an average price of $30.22 per share, for a total transaction of $49,863.00. Following the completion of the acquisition, the director now directly owns 1,650 shares in the company, valued at $49,863. The disclosure for this purchase can be found here. Company insiders own 4.63% of the company’s stock.
Alkermes Plc is a biopharmaceutical company, which engages in the development, research, and commercialization of medicines that are designed to address unmet medical needs of patients in major therapeutic areas. Its products include Aristada, which is used for the treatment of schizophrenia in adults; and Vivitrol, which is an injectable medication for the treatment of alcohol dependence and for the prevention of relapse to opioid dependence, following opioid detoxification.
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