Raymond James & Associates lessened its stake in Alkermes Plc (NASDAQ:ALKS) by 30.1% in the second quarter, Holdings Channel reports. The fund owned 24,717 shares of the company’s stock after selling 10,642 shares during the period. Raymond James & Associates’ holdings in Alkermes were worth $1,017,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ALKS. Baird Financial Group Inc. bought a new stake in shares of Alkermes in the 1st quarter valued at about $206,000. NumerixS Investment Technologies Inc bought a new stake in shares of Alkermes in the 2nd quarter valued at about $233,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Alkermes in the 1st quarter valued at about $333,000. Standard Life Aberdeen plc bought a new stake in shares of Alkermes in the 2nd quarter valued at about $355,000. Finally, Verition Fund Management LLC bought a new stake in shares of Alkermes in the 1st quarter valued at about $363,000.
A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus assumed coverage on Alkermes in a research note on Monday, August 6th. They issued a “hold” rating and a $45.00 target price for the company. BidaskClub lowered Alkermes from a “buy” rating to a “hold” rating in a research note on Tuesday, September 11th. ValuEngine lowered Alkermes from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 4th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Alkermes in a research note on Monday, July 2nd. Finally, Credit Suisse Group lowered their target price on Alkermes from $57.00 to $51.00 and set a “buy” rating for the company in a research note on Friday, July 27th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $55.43.
Alkermes (NASDAQ:ALKS) last released its quarterly earnings results on Thursday, July 26th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.40. The business had revenue of $304.64 million during the quarter, compared to analyst estimates of $261.58 million. Alkermes had a negative return on equity of 0.29% and a negative net margin of 13.81%. Alkermes’s quarterly revenue was up 39.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.01 EPS. Analysts expect that Alkermes Plc will post -0.67 EPS for the current fiscal year.
In other Alkermes news, Director Paul J. Mitchell sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $42.42, for a total transaction of $42,420.00. Following the completion of the transaction, the director now owns 8,000 shares of the company’s stock, valued at approximately $339,360. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 3,000 shares of company stock valued at $130,680 in the last ninety days. 5.34% of the stock is currently owned by corporate insiders.
Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in various therapeutic areas in the United States, Ireland, and internationally. The company's marketed products include ARISTADA (aripiprazole lauroxil), an extended-release intramuscular injectable suspension for the treatment of schizophrenia; VIVITROL (naltrexone for extended-release injectable suspension) for the treatment of alcohol and opioid dependence; INVEGA SUSTENNA for the treatment of schizophrenia and schizoaffective disorder; XEPLION, INVEGA TRINZA, and TREVICTA for treating schizophrenia; RISPERDAL CONSTA for the treatment of schizophrenia and bipolar I disorder; AMPYRA (dalfampridine)/FAMPYRA (fampridine) to enhance walking in adults with multiple sclerosis (MS) who have walking disability; and BYDUREON (exenatide extended-release for injectable suspension) and BYDUREON BCise for the treatment of type 2 diabetes.
See Also: Trading Penny Stocks
Want to see what other hedge funds are holding ALKS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alkermes Plc (NASDAQ:ALKS).
Receive News & Ratings for Alkermes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alkermes and related companies with MarketBeat.com's FREE daily email newsletter.