Ameriprise Financial Inc. Increases Holdings in Alkermes PLC (ALKS)

Ameriprise Financial Inc. raised its stake in Alkermes PLC (NASDAQ:ALKS) by 8.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 543,486 shares of the company’s stock after buying an additional 44,173 shares during the quarter. Ameriprise Financial Inc. owned about 0.35% of Alkermes worth $27,631,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its holdings in shares of Alkermes by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 194,531 shares of the company’s stock valued at $11,381,000 after purchasing an additional 2,891 shares during the last quarter. Aperio Group LLC raised its holdings in shares of Alkermes by 3.2% in the second quarter. Aperio Group LLC now owns 25,440 shares of the company’s stock valued at $1,475,000 after purchasing an additional 782 shares during the last quarter. US Bancorp DE raised its holdings in shares of Alkermes by 366.4% in the second quarter. US Bancorp DE now owns 3,974 shares of the company’s stock valued at $231,000 after purchasing an additional 3,122 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of Alkermes in the second quarter valued at approximately $554,000. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Alkermes by 10.7% in the second quarter. Daiwa Securities Group Inc. now owns 4,650 shares of the company’s stock valued at $270,000 after purchasing an additional 450 shares during the last quarter. 99.69% of the stock is currently owned by hedge funds and other institutional investors.

Alkermes PLC (NASDAQ:ALKS) opened at $52.76 on Thursday. Alkermes PLC has a fifty-two week low of $46.42 and a fifty-two week high of $63.40. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.05 and a quick ratio of 2.72.

Alkermes (NASDAQ:ALKS) last issued its earnings results on Thursday, October 26th. The company reported $0.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.04. The business had revenue of $217.40 million for the quarter, compared to the consensus estimate of $231.29 million. Alkermes had a negative net margin of 20.12% and a negative return on equity of 7.27%. The firm’s revenue for the quarter was up 20.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.09) earnings per share. equities analysts expect that Alkermes PLC will post -0.59 earnings per share for the current year.

In other Alkermes news, SVP Michael J. Landine sold 15,000 shares of Alkermes stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $48.71, for a total transaction of $730,650.00. Following the completion of the transaction, the senior vice president now directly owns 178,693 shares of the company’s stock, valued at $8,704,136.03. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP James M. Frates sold 20,932 shares of Alkermes stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $47.58, for a total transaction of $995,944.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 122,930 shares of company stock worth $6,051,110. 5.34% of the stock is owned by corporate insiders.

A number of analysts have recently issued reports on ALKS shares. Credit Suisse Group set a $66.00 price objective on shares of Alkermes and gave the company a “buy” rating in a report on Tuesday, November 28th. J P Morgan Chase & Co set a $78.00 price objective on shares of Alkermes and gave the company a “buy” rating in a report on Friday, October 27th. Jefferies Group set a $69.00 price objective on shares of Alkermes and gave the company a “buy” rating in a report on Friday, August 25th. Mizuho set a $81.00 price objective on shares of Alkermes and gave the company a “buy” rating in a report on Saturday, October 21st. Finally, Barclays downgraded shares of Alkermes from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $66.00 to $50.00 in a report on Monday, October 16th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $63.55.

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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).

Institutional Ownership by Quarter for Alkermes (NASDAQ:ALKS)

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