GW&K Investment Management LLC increased its stake in shares of Alkermes PLC (NASDAQ:ALKS) by 16.9% during the second quarter, Holdings Channel reports. The firm owned 223,274 shares of the company’s stock after buying an additional 32,300 shares during the period. GW&K Investment Management LLC’s holdings in Alkermes PLC were worth $9,650,000 as of its most recent filing with the SEC.
Several other institutional investors have also added to or reduced their stakes in the stock. Franklin Resources Inc. raised its position in Alkermes PLC by 149.4% in the first quarter. Franklin Resources Inc. now owns 4,230,000 shares of the company’s stock valued at $144,624,000 after buying an additional 2,534,197 shares in the last quarter. Wellington Management Group LLP raised its position in Alkermes PLC by 5.0% in the first quarter. Wellington Management Group LLP now owns 21,097,768 shares of the company’s stock valued at $721,333,000 after buying an additional 995,186 shares in the last quarter. State Street Corp raised its position in Alkermes PLC by 24.0% in the first quarter. State Street Corp now owns 3,726,611 shares of the company’s stock valued at $127,418,000 after buying an additional 720,887 shares in the last quarter. A.R.T. Advisors LLC acquired a new position in Alkermes PLC during the first quarter valued at approximately $14,841,000. Finally, Bogle Investment Management L P DE acquired a new position in Alkermes PLC during the first quarter valued at approximately $14,745,000. 95.13% of the stock is currently owned by institutional investors.
Shares of Alkermes PLC (NASDAQ:ALKS) traded down 4.30% during midday trading on Thursday, hitting $46.71. 766,505 shares of the stock were exchanged. The stock’s market cap is $7.08 billion. Alkermes PLC has a 12 month low of $27.14 and a 12 month high of $80.71. The firm has a 50 day moving average of $46.92 and a 200-day moving average of $43.17.
Alkermes PLC (NASDAQ:ALKS) last posted its quarterly earnings results on Thursday, July 28th. The company reported ($0.01) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.09. The firm had revenue of $195.20 million for the quarter, compared to analysts’ expectations of $174.15 million. Alkermes PLC had a negative net margin of 41.19% and a negative return on equity of 14.18%. The business’s revenue for the quarter was up 28.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.09) earnings per share. Equities research analysts anticipate that Alkermes PLC will post ($0.12) EPS for the current year.
Several equities analysts recently commented on ALKS shares. Citigroup Inc. increased their target price on shares of Alkermes PLC from $44.00 to $53.00 and gave the company a “neutral” rating in a report on Tuesday. Zacks Investment Research lowered shares of Alkermes PLC from a “buy” rating to a “hold” rating in a report on Tuesday. Barclays PLC reaffirmed a “buy” rating and set a $65.00 target price (up previously from $50.00) on shares of Alkermes PLC in a report on Tuesday, July 12th. Leerink Swann reaffirmed an “outperform” rating and set a $54.00 target price (down previously from $58.00) on shares of Alkermes PLC in a report on Tuesday, June 28th. Finally, JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $51.00 target price on shares of Alkermes PLC in a report on Friday, July 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $55.60.
In other news, CMO Elliot Ehrich sold 5,000 shares of the company’s stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $50.83, for a total value of $254,150.00. Following the transaction, the chief marketing officer now directly owns 46,477 shares in the company, valued at $2,362,425.91. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Iain Michael Brown sold 29,976 shares of the company’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $45.92, for a total transaction of $1,376,497.92. Following the completion of the transaction, the chief accounting officer now owns 25,696 shares in the company, valued at $1,179,960.32. The disclosure for this sale can be found here. 4.75% of the stock is currently owned by insiders.
About Alkermes PLC
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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