Trade Report: Today, Advisors Asset Management Inc. decides to keep it stake in Alkermes PLC (ALKS) to the level of $735,000

Today, Advisors Asset Management Inc. decides to keep it stake in Alkermes PLC (ALKS) to the level of $735,000

Advisors Asset Management Inc. cut its position in Alkermes PLC (NASDAQ:ALKS) by 14.1% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 15,628 shares of the company’s stock after selling 2,567 shares during the period. Advisors Asset Management Inc.’s holdings in Alkermes PLC were worth $735,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in ALKS. LS Investment Advisors LLC boosted its position in Alkermes PLC by 23.6% in the second quarter. LS Investment Advisors LLC now owns 2,846 shares of the company’s stock worth $123,000 after buying an additional 544 shares during the last quarter. Glenmede Trust Co. NA boosted its position in Alkermes PLC by 2,458.1% in the second quarter. Glenmede Trust Co. NA now owns 3,300 shares of the company’s stock worth $142,000 after buying an additional 3,171 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in Alkermes PLC by 3.4% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 3,829 shares of the company’s stock worth $149,000 after buying an additional 127 shares during the last quarter. Strs Ohio boosted its position in Alkermes PLC by 29.6% in the second quarter. Strs Ohio now owns 4,050 shares of the company’s stock worth $175,000 after buying an additional 925 shares during the last quarter. Finally, Independent Portfolio Consultants Inc. acquired a new position in Alkermes PLC during the second quarter worth $179,000. 94.67% of the stock is owned by institutional investors.

Shares of Alkermes PLC (NASDAQ:ALKS) traded down 0.19% on Friday, reaching $58.89. The company had a trading volume of 308,936 shares. Alkermes PLC has a 1-year low of $27.14 and a 1-year high of $80.71. The firm’s market capitalization is $8.95 billion. The firm has a 50-day moving average price of $52.37 and a 200 day moving average price of $47.40.

Alkermes PLC (NASDAQ:ALKS) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by $0.03. Alkermes PLC had a negative net margin of 36.92% and a negative return on equity of 12.75%. The business earned $180.20 million during the quarter, compared to analysts’ expectations of $186.39 million. During the same period in the prior year, the firm posted ($0.19) EPS. Alkermes PLC’s revenue for the quarter was up 18.0% compared to the same quarter last year. Equities research analysts predict that Alkermes PLC will post ($0.20) earnings per share for the current year.

A number of equities analysts have commented on the company. Morgan Stanley reissued a “sell” rating and set a $41.00 target price on shares of Alkermes PLC in a report on Friday, September 2nd. Cowen and Company reissued a “buy” rating on shares of Alkermes PLC in a report on Wednesday, November 2nd. JPMorgan Chase & Co. raised Alkermes PLC from a “neutral” rating to an “overweight” rating and increased their target price for the company from $51.00 to $78.00 in a report on Friday, October 21st. Jefferies Group increased their target price on Alkermes PLC from $54.00 to $62.00 and gave the company a “buy” rating in a report on Friday, July 29th. Finally, Barclays PLC increased their target price on Alkermes PLC from $65.00 to $66.00 and gave the company an “overweight” rating in a report on Friday, July 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $61.64.

In other Alkermes PLC news, SVP David Joseph Gaffin sold 2,382 shares of Alkermes PLC stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $45.92, for a total value of $109,381.44. Following the sale, the senior vice president now owns 22,816 shares of the company’s stock, valued at approximately $1,047,710.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul J. Mitchell sold 2,000 shares of Alkermes PLC stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $45.92, for a total value of $91,840.00. Following the completion of the sale, the director now directly owns 10,000 shares in the company, valued at approximately $459,200. The disclosure for this sale can be found here. 4.75% of the stock is owned by company insiders.

Alkermes PLC Company Profile

Alkermes Public Limited Company is a biopharmaceutical company. The Company is engaged in researching, developing and commercializing, both with partners and on its own, pharmaceutical products that are designed to address medical needs of patients in therapeutic areas. The Company has a portfolio of approximately 20 products and a clinical pipeline of product candidates that address central nervous system (CNS) disorders, such as schizophrenia, depression, addiction and multiple sclerosis.

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