Tocqueville Asset Management L.P. cut its stake in shares of Alkermes Plc (NASDAQ:ALKS) by 88.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,255 shares of the company’s stock after selling 322,586 shares during the period. Tocqueville Asset Management L.P.’s holdings in Alkermes were worth $2,313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also modified their holdings of the company. The Manufacturers Life Insurance Company boosted its position in Alkermes by 7.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,804 shares of the company’s stock valued at $336,000 after acquiring an additional 409 shares in the last quarter. CIBC Asset Management Inc boosted its position in Alkermes by 12.6% during the 4th quarter. CIBC Asset Management Inc now owns 7,287 shares of the company’s stock valued at $399,000 after acquiring an additional 818 shares in the last quarter. Public Employees Retirement Association of Colorado lifted its holdings in shares of Alkermes by 3.2% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 31,504 shares of the company’s stock valued at $1,724,000 after purchasing an additional 970 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Alkermes by 4.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,855 shares of the company’s stock valued at $1,908,000 after purchasing an additional 1,462 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Alkermes by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 196,108 shares of the company’s stock valued at $11,369,000 after purchasing an additional 1,577 shares during the last quarter.
A number of brokerages recently issued reports on ALKS. Morgan Stanley reiterated an “equal weight” rating and set a $67.00 price objective (up previously from $60.00) on shares of Alkermes in a research note on Friday, February 23rd. Credit Suisse Group set a $53.00 target price on Alkermes and gave the company a “buy” rating in a research report on Monday. They noted that the move was a valuation call. Jefferies Group dropped their target price on Alkermes from $59.00 to $10.37 and set a “hold” rating on the stock in a research report on Monday. Cantor Fitzgerald lowered their price objective on Alkermes to $45.00 and set a “neutral” rating on the stock in a report on Monday. Finally, Cowen lowered their target price on Alkermes to $55.00 and set an “outperform” rating on the stock in a report on Monday. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Alkermes currently has a consensus rating of “Hold” and a consensus target price of $57.28.
In other Alkermes news, Director Paul J. Mitchell sold 1,000 shares of the company’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $54.99, for a total value of $54,990.00. Following the completion of the transaction, the director now owns 9,000 shares in the company, valued at $494,910. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mark Stejbach sold 10,880 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $70.50, for a total transaction of $767,040.00. Following the completion of the transaction, the senior vice president now owns 54,893 shares of the company’s stock, valued at approximately $3,869,956.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 97,880 shares of company stock valued at $6,017,276. Insiders own 5.34% of the company’s stock.
NASDAQ ALKS traded down $12.73 on Monday, reaching $45.23. The stock had a trading volume of 8,052,533 shares, compared to its average volume of 1,108,041. Alkermes Plc has a 12-month low of $44.07 and a 12-month high of $71.22. The company has a quick ratio of 2.46, a current ratio of 2.78 and a debt-to-equity ratio of 0.23. The firm has a market cap of $8,926.36, a price-to-earnings ratio of -122.24 and a beta of 1.81.
Alkermes (NASDAQ:ALKS) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.32. The business had revenue of $275.37 million for the quarter, compared to analyst estimates of $251.23 million. Alkermes had a negative return on equity of 4.32% and a negative net margin of 17.48%. The company’s revenue was up 29.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.02 earnings per share. analysts anticipate that Alkermes Plc will post -0.8 EPS for the current fiscal year.
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Alkermes Company 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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