Trade Report: The Emerald Acquisition Ltd. Acquires Shares of 19,078 Alkermes PLC (ALKS)

The Emerald Acquisition Ltd. Acquires Shares of 19,078 Alkermes PLC (ALKS)

Emerald Acquisition Ltd. bought a new stake in Alkermes PLC (NASDAQ:ALKS) during the second quarter, Holdings Channel reports. The institutional investor bought 19,078 shares of the company’s stock, valued at approximately $825,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC increased its position in shares of Alkermes PLC by 6.3% in the first quarter. Geode Capital Management LLC now owns 971,829 shares of the company’s stock valued at $33,208,000 after buying an additional 57,965 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Alkermes PLC by 423.9% in the second quarter. BNP Paribas Arbitrage SA now owns 61,444 shares of the company’s stock valued at $2,656,000 after buying an additional 49,716 shares in the last quarter. State Street Corp increased its position in shares of Alkermes PLC by 24.0% in the first quarter. State Street Corp now owns 3,726,611 shares of the company’s stock valued at $127,418,000 after buying an additional 720,887 shares in the last quarter. British Columbia Investment Management Corp increased its position in shares of Alkermes PLC by 18.7% in the second quarter. British Columbia Investment Management Corp now owns 40,588 shares of the company’s stock valued at $1,754,000 after buying an additional 6,400 shares in the last quarter. Finally, Granahan Investment Management Inc. MA increased its position in shares of Alkermes PLC by 47.8% in the first quarter. Granahan Investment Management Inc. MA now owns 535,878 shares of the company’s stock valued at $18,322,000 after buying an additional 173,378 shares in the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

Alkermes PLC (NASDAQ:ALKS) traded up 0.25% during trading on Thursday, hitting $43.76. The stock had a trading volume of 314,024 shares. The stock has a 50 day moving average price of $46.84 and a 200-day moving average price of $44.13. The stock’s market cap is $6.63 billion. Alkermes PLC has a 12 month low of $27.14 and a 12 month high of $80.71.

Alkermes PLC (NASDAQ:ALKS) last released its earnings results on Thursday, July 28th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.09. Alkermes PLC had a negative return on equity of 14.18% and a negative net margin of 41.19%. The firm earned $195.20 million during the quarter, compared to analysts’ expectations of $174.15 million. During the same quarter last year, the business posted ($0.09) earnings per share. The firm’s revenue was up 28.9% on a year-over-year basis. On average, equities analysts predict that Alkermes PLC will post ($0.12) EPS for the current year.

A number of analysts have recently issued reports on the company. Cowen and Company reiterated a “buy” rating on shares of Alkermes PLC in a research report on Friday, September 23rd. Morgan Stanley reiterated a “sell” rating and set a $41.00 price target on shares of Alkermes PLC in a research report on Friday, September 2nd. Citigroup Inc. lifted their price target on Alkermes PLC from $44.00 to $53.00 and gave the company a “neutral” rating in a research report on Tuesday, September 27th. Zacks Investment Research downgraded Alkermes PLC from a “buy” rating to a “hold” rating in a research report on Tuesday, September 27th. Finally, Leerink Swann assumed coverage on Alkermes PLC in a research report on Tuesday, October 4th. They set an “outperform” rating and a $57.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $55.90.

In related news, Director Paul J. Mitchell sold 2,000 shares of the stock in a transaction that occurred on Tuesday, October 4th. The stock was sold at an average price of $47.42, for a total transaction of $94,840.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $474,200. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP David Joseph Gaffin sold 2,382 shares of the 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 $109,381.44. Following the transaction, the senior vice president now directly owns 22,816 shares of the company’s stock, valued at $1,047,710.72. The disclosure for this sale can be found here. Corporate insiders own 4.75% of the company’s stock.

About Alkermes PLC

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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