Tocqueville Asset Management L.P. Has $18.55 Million Stake in Alkermes PLC (ALKS)

Tocqueville Asset Management L.P. reduced its stake in shares of Alkermes PLC (NASDAQ:ALKS) by 2.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 364,841 shares of the company’s stock after selling 9,050 shares during the quarter. Tocqueville Asset Management L.P. owned 0.24% of Alkermes PLC worth $18,549,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in Alkermes PLC by 0.4% in the second quarter. FMR LLC now owns 22,978,575 shares of the company’s stock valued at $1,332,068,000 after buying an additional 96,457 shares in the last quarter. Vanguard Group Inc. boosted its stake in Alkermes PLC by 3.7% in the second quarter. Vanguard Group Inc. now owns 12,546,198 shares of the company’s stock valued at $727,303,000 after buying an additional 449,563 shares in the last quarter. Woodford Investment Management Ltd boosted its stake in Alkermes PLC by 2.4% in the second quarter. Woodford Investment Management Ltd now owns 7,647,977 shares of the company’s stock valued at $443,353,000 after buying an additional 177,449 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Alkermes PLC by 13,784.0% in the second quarter. Janus Henderson Group PLC now owns 2,330,992 shares of the company’s stock valued at $135,128,000 after buying an additional 2,314,203 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Alkermes PLC by 1.7% in the second quarter. Bank of New York Mellon Corp now owns 1,377,593 shares of the company’s stock valued at $79,859,000 after buying an additional 23,506 shares in the last quarter. 98.74% of the stock is currently owned by institutional investors.

Alkermes PLC (NASDAQ:ALKS) last released its earnings results on Thursday, October 26th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. Alkermes PLC had a negative return on equity of 7.27% and a negative net margin of 20.12%. The company had revenue of $217.40 million during the quarter, compared to analyst estimates of $231.29 million. During the same quarter in the previous year, the company posted ($0.09) EPS. Alkermes PLC’s revenue for the quarter was up 20.6% on a year-over-year basis.

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In other news, Director Paul J. Mitchell sold 1,500 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $50.64, for a total value of $75,960.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Kathryn L. Biberstein sold 13,566 shares of the business’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $51.29, for a total value of $695,800.14. Following the completion of the sale, the chief accounting officer now directly owns 70,455 shares of the company’s stock, valued at approximately $3,613,636.95. The disclosure for this sale can be found here. In the last three months, insiders sold 16,566 shares of company stock valued at $847,915. 5.34% of the stock is currently owned by corporate insiders.

Several analysts recently weighed in on the company. Barclays PLC set a $50.00 price objective on Alkermes PLC and gave the company a “hold” rating in a research note on Thursday, October 26th. ValuEngine lowered Alkermes PLC from a “hold” rating to a “sell” rating in a research note on Monday, October 23rd. J P Morgan Chase & Co set a $78.00 price objective on Alkermes PLC and gave the company a “buy” rating in a research note on Friday, October 27th. Citigroup Inc. set a $62.00 price objective on Alkermes PLC and gave the company a “hold” rating in a research note on Thursday, October 26th. Finally, Jefferies Group LLC set a $69.00 price objective on Alkermes PLC and gave the company a “buy” rating in a research note on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $63.55.

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).

Institutional Ownership by Quarter for Alkermes PLC (NASDAQ:ALKS)

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