New England Research & Management Inc. bought a new stake in Alkermes PLC (NASDAQ:ALKS) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,350 shares of the company’s stock, valued at approximately $272,000.
Several other hedge funds have also recently modified their holdings of the business. APG Asset Management N.V. grew its holdings in shares of Alkermes PLC by 20.0% during the third quarter. APG Asset Management N.V. now owns 81,038 shares of the company’s stock worth $4,120,000 after purchasing an additional 13,500 shares during the last quarter. Toronto Dominion Bank boosted its stake in shares of Alkermes PLC by 12.7% during the second quarter. Toronto Dominion Bank now owns 1,875 shares of the company’s stock worth $109,000 after buying an additional 212 shares during the period. WINTON GROUP Ltd acquired a new stake in shares of Alkermes PLC during the second quarter worth about $249,000. The Manufacturers Life Insurance Company increased its stake in shares of Alkermes PLC by 7.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,804 shares of the company’s stock worth $336,000 after purchasing an additional 409 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of Alkermes PLC by 13,784.0% during the 2nd quarter. Janus Henderson Group PLC now owns 2,330,992 shares of the company’s stock worth $135,128,000 after purchasing an additional 2,314,203 shares in the last quarter. 98.19% of the stock is currently owned by institutional investors.
Several analysts have commented on ALKS shares. Zacks Investment Research raised shares of Alkermes PLC from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. ValuEngine cut shares of Alkermes PLC from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Barclays PLC cut shares of Alkermes PLC from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $66.00 to $50.00 in a research note on Monday, October 16th. J P Morgan Chase & Co set a $78.00 price objective on shares of Alkermes PLC and gave the company a “buy” rating in a research note on Friday, October 27th. Finally, UBS AG set a $54.00 price objective on shares of Alkermes PLC and gave the company a “hold” rating in a research note on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $63.55.
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Shares of Alkermes PLC (NASDAQ:ALKS) opened at $47.85 on Monday. Alkermes PLC has a 1 year low of $46.80 and a 1 year high of $63.40. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.72 and a current ratio of 3.05.
Alkermes PLC (NASDAQ:ALKS) last released its earnings results on Thursday, October 26th. The company reported $0.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.04. Alkermes PLC had a negative net margin of 20.12% and a negative return on equity of 7.27%. The company had revenue of $217.40 million during the quarter, compared to the consensus estimate of $231.29 million. During the same quarter in the previous year, the firm earned ($0.09) EPS. The company’s revenue was up 20.6% on a year-over-year basis. research analysts expect that Alkermes PLC will post -0.59 EPS for the current fiscal year.
In other news, Director Richard F. Pops sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $48.87, for a total value of $2,443,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Paul J. Mitchell sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $50.77, for a total transaction of $76,155.00. Following the completion of the sale, the director now directly owns 9,500 shares of the company’s stock, valued at $482,315. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 102,498 shares of company stock valued at $5,018,010. Insiders own 5.34% of the company’s stock.
Alkermes PLC Profile
Alkermes plc is a biopharmaceutical company. The Company is engaged in the researching, developing and commercializing pharmaceutical products that are designed to address medical needs of patients in therapeutic areas. The Company has a portfolio of marketed drug products and a clinical pipeline of products that address central nervous system (CNS) disorders, such as schizophrenia, depression, addiction and multiple sclerosis (MS).
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