Sumitomo Mitsui Asset Management Company LTD reduced its stake in shares of Alkermes PLC (NASDAQ:ALKS) by 8.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,262 shares of the company’s stock after selling 994 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Alkermes PLC were worth $652,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the stock. Daiwa SB Investments Ltd. purchased a new position in shares of Alkermes PLC during the second quarter valued at about $166,000. Greenwood Capital Associates LLC raised its position in shares of Alkermes PLC by 2.4% in the first quarter. Greenwood Capital Associates LLC now owns 3,729 shares of the company’s stock worth $218,000 after buying an additional 89 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its stake in shares of Alkermes PLC by 5.9% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 4,053 shares of the company’s stock valued at $222,000 after buying an additional 224 shares during the period. US Bancorp DE boosted its stake in shares of Alkermes PLC 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 buying an additional 3,122 shares during the period. Finally, Insight Capital Research & Management Inc. acquired a new stake in shares of Alkermes PLC during the second quarter valued at approximately $232,000. 97.19% of the stock is owned by institutional investors.
Alkermes PLC (ALKS) traded down 0.04% on Friday, reaching $50.90. 701,043 shares of the company’s stock traded hands. Alkermes PLC has a 52-week low of $41.93 and a 52-week high of $63.40. The company’s 50 day moving average is $55.78 and its 200-day moving average is $57.15. The stock’s market cap is $7.82 billion.
Alkermes PLC (NASDAQ:ALKS) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.02. The business had revenue of $218.80 million for the quarter, compared to analysts’ expectations of $216.54 million. Alkermes PLC had a negative net margin of 24.33% and a negative return on equity of 9.12%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.01) earnings per share. Equities analysts expect that Alkermes PLC will post ($0.04) EPS for the current year.
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Several equities research analysts have commented on ALKS shares. Cowen and Company reissued a “buy” rating on shares of Alkermes PLC in a research report on Friday, April 28th. ValuEngine cut shares of Alkermes PLC from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Zacks Investment Research raised shares of Alkermes PLC from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Credit Suisse Group set a $70.00 target price on shares of Alkermes PLC and gave the company a “buy” rating in a report on Friday, May 19th. Finally, BidaskClub cut shares of Alkermes PLC from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $63.00.
In other Alkermes PLC news, Director Richard F. Pops sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $57.42, for a total value of $1,435,500.00. Following the completion of the transaction, the director now owns 649,137 shares of the company’s stock, valued at approximately $37,273,446.54. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Paul J. Mitchell sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $57.49, for a total transaction of $86,235.00. Following the completion of the transaction, the director now directly owns 9,500 shares of the company’s stock, valued at approximately $546,155. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,500 shares of company stock worth $2,294,565. Insiders own 5.34% of the company’s stock.
About Alkermes PLC
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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