APG Asset Management N.V. grew its holdings in shares of Alkermes Plc (NASDAQ:ALKS) by 43.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 60,737 shares of the company’s stock after acquiring an additional 18,317 shares during the period. APG Asset Management N.V.’s holdings in Alkermes were worth $1,974,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in ALKS. M&T Bank Corp acquired a new position in shares of Alkermes in the first quarter worth about $11,536,000. NumerixS Investment Technologies Inc increased its holdings in Alkermes by 17.5% during the 4th quarter. NumerixS Investment Technologies Inc now owns 7,400 shares of the company’s stock worth $151,000 after purchasing an additional 1,100 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Alkermes by 8.7% in the 4th quarter. Victory Capital Management Inc. now owns 18,422 shares of the company’s stock valued at $321,000 after purchasing an additional 1,470 shares in the last quarter. Sowell Financial Services LLC grew its position in shares of Alkermes by 8,181.8% during the first quarter. Sowell Financial Services LLC now owns 1,822 shares of the company’s stock worth $26,000 after buying an additional 1,800 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd grew its position in shares of Alkermes by 7.5% during the first quarter. Dynamic Technology Lab Private Ltd now owns 27,634 shares of the company’s stock worth $398,000 after buying an additional 1,923 shares in the last quarter. Institutional investors own 97.90% of the company’s stock.
In related news, CEO Richard F. Pops sold 50,000 shares of Alkermes stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $13.79, for a total transaction of $689,500.00. Following the sale, the chief executive officer now directly owns 809,094 shares in the company, valued at $11,157,406.26. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Michael J. Landine sold 18,000 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $15.75, for a total transaction of $283,500.00. Following the transaction, the senior vice president now directly owns 219,822 shares in the company, valued at approximately $3,462,196.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 224,250 shares of company stock valued at $3,277,188. 4.49% of the stock is owned by insiders.
Alkermes (NASDAQ:ALKS) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.07. The business had revenue of $246.20 million for the quarter, compared to analysts’ expectations of $230.53 million. Alkermes had a negative net margin of 11.63% and a positive return on equity of 4.99%. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.17) EPS. As a group, analysts predict that Alkermes Plc will post -0.94 EPS for the current fiscal year.
Several research analysts have weighed in on the stock. Piper Sandler decreased their price objective on shares of Alkermes from $22.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, April 29th. Morgan Stanley lowered their price objective on Alkermes from $20.00 to $16.00 and set an “equal weight” rating for the company in a report on Thursday, April 2nd. Bank of America cut their price objective on Alkermes from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Monday, March 23rd. HC Wainwright reiterated a “neutral” rating and issued a $23.00 target price (down previously from $25.00) on shares of Alkermes in a research report on Thursday, April 30th. Finally, Mizuho reissued a “hold” rating and set a $16.00 price target on shares of Alkermes in a research report on Wednesday, April 29th. Thirteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $21.23.
Alkermes Company Profile
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; RISPERDAL CONSTA for the treatment of schizophrenia and bipolar I disorder; INVEGA SUSTENNA for the treatment of schizophrenia and schizoaffective disorder; XEPLION, INVEGA TRINZA, and TREVICTA for treating schizophrenia; and AMPYRA (dalfampridine)/FAMPYRA (fampridine) to enhance walking in adults with multiple sclerosis (MS) who have walking disability.
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