Frontier Capital Management Co. LLC trimmed its stake in Alkermes PLC (NASDAQ:ALKS) by 12.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 786,743 shares of the company’s stock after selling 116,949 shares during the period. Frontier Capital Management Co. LLC owned about 0.51% of Alkermes PLC worth $39,998,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Toronto Dominion Bank increased its holdings in Alkermes PLC by 12.7% in the second quarter. Toronto Dominion Bank now owns 1,875 shares of the company’s stock valued at $109,000 after purchasing an additional 212 shares during the period. Daiwa SB Investments Ltd. acquired a new stake in Alkermes PLC in the second quarter valued at $166,000. Greenwood Capital Associates LLC increased its holdings in Alkermes PLC by 1.1% in the second quarter. Greenwood Capital Associates LLC now owns 3,770 shares of the company’s stock valued at $219,000 after purchasing an additional 41 shares during the period. US Bancorp DE increased its holdings in 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 purchasing an additional 3,122 shares during the period. Finally, Aviance Capital Partners LLC acquired a new stake in Alkermes PLC in the second quarter valued at $232,000. Institutional investors and hedge funds own 98.19% of the company’s stock.
In other Alkermes PLC news, CAO Kathryn L. Biberstein sold 13,566 shares of the 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 owns 70,455 shares in the company, valued at approximately $3,613,636.95. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Paul J. Mitchell sold 1,500 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $50.77, for a total transaction of $76,155.00. Following the completion of the sale, the director now owns 9,500 shares of the company’s stock, valued at approximately $482,315. The disclosure for this sale can be found here. In the last ninety days, insiders sold 81,566 shares of company stock worth $4,022,065. 5.34% of the stock is owned by insiders.
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A number of analysts have commented on ALKS shares. Mizuho set a $81.00 price target on shares of Alkermes PLC and gave the company a “buy” rating in a research report on Saturday, October 21st. Zacks Investment Research raised shares of Alkermes PLC from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. ValuEngine raised shares of Alkermes PLC from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Jefferies Group LLC set a $69.00 price target on shares of Alkermes PLC and gave the company a “buy” rating in a research report on Friday, August 25th. Finally, Citigroup Inc. set a $62.00 price target on shares of Alkermes PLC and gave the company a “hold” rating in a research report on Thursday, October 26th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $63.55.
Alkermes PLC (NASDAQ ALKS) opened at $50.99 on Monday. The company has a current ratio of 3.05, a quick ratio of 2.72 and a debt-to-equity ratio of 0.23.
Alkermes PLC (NASDAQ:ALKS) last announced its quarterly earnings results on Thursday, October 26th. The company reported $0.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.04. Alkermes PLC had a negative net margin of 20.12% and a negative return on equity of 7.27%. The business had revenue of $217.40 million for the quarter, compared to analysts’ expectations of $231.29 million. During the same quarter last year, the firm earned ($0.09) EPS. The firm’s revenue for the quarter was up 20.6% compared to the same quarter last year. sell-side analysts expect that Alkermes PLC will post -0.59 earnings per share for the current fiscal year.
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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