Russell Investments Group Ltd. Grows Stake in Alkermes Plc (ALKS)

Russell Investments Group Ltd. increased its position in shares of Alkermes Plc (NASDAQ:ALKS) by 767.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,217 shares of the company’s stock after purchasing an additional 47,966 shares during the period. Russell Investments Group Ltd.’s holdings in Alkermes were worth $2,303,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ALKS. Principal Financial Group Inc. boosted its stake in shares of Alkermes by 5.0% during the 1st quarter. Principal Financial Group Inc. now owns 47,703 shares of the company’s stock worth $2,764,000 after purchasing an additional 2,264 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Alkermes by 9.5% during the 2nd quarter. Bank of Montreal Can now owns 17,601 shares of the company’s stock worth $724,000 after purchasing an additional 1,532 shares during the last quarter. BP PLC acquired a new stake in shares of Alkermes during the 2nd quarter worth about $864,000. State of New Jersey Common Pension Fund D boosted its stake in shares of Alkermes by 31.0% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 190,000 shares of the company’s stock worth $7,820,000 after purchasing an additional 45,000 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Alkermes during the 2nd quarter worth about $3,398,000.

Several equities research analysts have issued reports on the stock. BidaskClub cut shares of Alkermes from a “buy” rating to a “hold” rating in a research note on Tuesday, November 13th. ValuEngine cut shares of Alkermes from a “hold” rating to a “sell” rating in a research note on Monday, November 12th. Zacks Investment Research cut shares of Alkermes from a “buy” rating to a “hold” rating and set a $44.00 price target on the stock. in a research note on Monday, November 12th. Leerink Swann started coverage on shares of Alkermes in a research note on Monday, November 12th. They set a “market perform” rating and a $36.00 price target on the stock. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $41.00 price objective (down from $46.00) on shares of Alkermes in a report on Monday, November 5th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. Alkermes has an average rating of “Hold” and a consensus price target of $50.54.

In other news, Director Paul J. Mitchell sold 1,000 shares of the stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $42.42, for a total transaction of $42,420.00. Following the transaction, the director now directly owns 8,000 shares in the company, valued at approximately $339,360. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last quarter, insiders have sold 3,000 shares of company stock worth $124,510. Insiders own 5.51% of the company’s stock.

Shares of ALKS stock opened at $36.44 on Monday. The stock has a market cap of $5.66 billion, a PE ratio of -98.49 and a beta of 1.54. Alkermes Plc has a 1-year low of $32.61 and a 1-year high of $71.22. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.56 and a current ratio of 2.85.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings data on Tuesday, October 23rd. The company reported $0.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.15. The business had revenue of $248.72 million for the quarter, compared to analyst estimates of $236.70 million. Alkermes had a negative net margin of 13.23% and a negative return on equity of 0.12%. The company’s revenue was up 14.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.03 EPS. Analysts forecast that Alkermes Plc will post -0.5 earnings per share for the current fiscal year.

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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; 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.

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Institutional Ownership by Quarter for Alkermes (NASDAQ:ALKS)

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