Tocqueville Asset Management L.P. reduced its position in shares of Alkermes PLC (NASDAQ:ALKS) by 12.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 726,065 shares of the company’s stock after selling 101,663 shares during the period. Tocqueville Asset Management L.P.’s holdings in Alkermes PLC were worth $31,381,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of ALKS. LS Investment Advisors LLC boosted its stake in shares of Alkermes PLC by 23.6% in the second quarter. LS Investment Advisors LLC now owns 2,846 shares of the company’s stock valued at $123,000 after buying an additional 544 shares in the last quarter. Strs Ohio boosted its stake in shares of Alkermes PLC by 29.6% in the second quarter. Strs Ohio now owns 4,050 shares of the company’s stock valued at $175,000 after buying an additional 925 shares in the last quarter. Independent Portfolio Consultants Inc. purchased a new stake in shares of Alkermes PLC during the second quarter valued at $179,000. Fox Run Management L.L.C. purchased a new stake in shares of Alkermes PLC during the second quarter valued at $264,000. Finally, Capstone Asset Management Co. boosted its stake in shares of Alkermes PLC by 5.5% in the second quarter. Capstone Asset Management Co. now owns 6,285 shares of the company’s stock valued at $272,000 after buying an additional 330 shares in the last quarter. 95.13% of the stock is currently owned by institutional investors and hedge funds.
Shares of Alkermes PLC (NASDAQ:ALKS) traded down 2.96% during trading on Friday, reaching $42.57. 644,545 shares of the company traded hands. Alkermes PLC has a 12-month low of $27.14 and a 12-month high of $80.71. The company has a 50 day moving average price of $46.82 and a 200 day moving average price of $44.13. The firm’s market capitalization is $6.45 billion.
Alkermes PLC (NASDAQ:ALKS) last issued its quarterly earnings data on Thursday, July 28th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.09. Alkermes PLC had a negative net margin of 41.19% and a negative return on equity of 14.18%. The business earned $195.20 million during the quarter, compared to analysts’ expectations of $174.15 million. During the same quarter in the previous year, the company earned ($0.09) EPS. The business’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.
Several analysts have weighed in on the stock. Jefferies Group reaffirmed a “buy” rating on shares of Alkermes PLC in a research note on Sunday, July 17th. Zacks Investment Research cut shares of Alkermes PLC from a “hold” rating to a “sell” rating in a research note on Friday. Barclays PLC upped their target price on shares of Alkermes PLC from $50.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 13th. Leerink Swann reiterated an “outperform” rating and set a $54.00 target price (down from $58.00) on shares of Alkermes PLC in a research report on Tuesday, June 28th. Finally, JPMorgan Chase & Co. reiterated a “hold” rating and set a $51.00 target price on shares of Alkermes PLC in a research report on Friday, July 29th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $55.90.
In other Alkermes PLC news, Director Paul J. Mitchell sold 2,000 shares of Alkermes PLC stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $49.48, for a total value of $98,960.00. Following the completion of the sale, the director now owns 10,000 shares in the company, valued at approximately $494,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Iain Michael Brown sold 29,976 shares of Alkermes PLC stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $45.92, for a total transaction of $1,376,497.92. Following the completion of the sale, the chief accounting officer now owns 25,696 shares of the company’s stock, valued at approximately $1,179,960.32. The disclosure for this sale can be found here. 4.75% of the stock is currently owned by company insiders.
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.