Morgan Stanley Has $4.26 Million Position in Alkermes PLC (ALKS)
Morgan Stanley reduced its position in shares of Alkermes PLC (NASDAQ:ALKS) by 31.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,831 shares of the company’s stock after selling 33,548 shares during the period. Morgan Stanley’s holdings in Alkermes PLC were worth $4,261,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. FMR LLC raised its stake in Alkermes PLC by 0.4% in the first quarter. FMR LLC now owns 22,882,118 shares of the company’s stock worth $1,338,604,000 after buying an additional 86,546 shares in the last quarter. Vanguard Group Inc. raised its stake in Alkermes PLC by 4.3% in the first quarter. Vanguard Group Inc. now owns 12,096,635 shares of the company’s stock worth $707,654,000 after buying an additional 497,421 shares in the last quarter. Primecap Management Co. CA raised its stake in Alkermes PLC by 23.2% in the first quarter. Primecap Management Co. CA now owns 7,856,543 shares of the company’s stock worth $459,608,000 after buying an additional 1,480,273 shares in the last quarter. Woodford Investment Management Ltd raised its stake in Alkermes PLC by 0.3% in the first quarter. Woodford Investment Management Ltd now owns 7,470,528 shares of the company’s stock worth $437,026,000 after buying an additional 19,400 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Alkermes PLC by 3.1% in the first quarter. Bank of New York Mellon Corp now owns 1,354,087 shares of the company’s stock worth $79,213,000 after buying an additional 41,250 shares in the last quarter. 97.41% of the stock is currently owned by institutional investors.
Shares of Alkermes PLC (NASDAQ:ALKS) traded up 0.48% during midday trading on Friday, hitting $51.91. The stock had a trading volume of 530,353 shares. The company’s market cap is $7.98 billion. Alkermes PLC has a one year low of $41.93 and a one year high of $63.40. The stock has a 50 day moving average of $56.73 and a 200-day moving average of $57.26.
Alkermes PLC (NASDAQ:ALKS) last announced its quarterly earnings data on Thursday, July 27th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. Alkermes PLC had a negative return on equity of 9.12% and a negative net margin of 24.33%. The firm had revenue of $218.80 million for the quarter, compared to analysts’ expectations of $216.54 million. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. Alkermes PLC’s revenue for the quarter was up 12.1% compared to the same quarter last year. Analysts forecast that Alkermes PLC will post ($0.04) EPS for the current fiscal year.
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ALKS has been the topic of a number of analyst reports. ValuEngine raised Alkermes PLC from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub lowered Alkermes PLC from a “sell” rating to a “strong sell” rating in a research report on Wednesday. Cowen and Company reaffirmed a “buy” rating on shares of Alkermes PLC in a research report on Friday, April 28th. J P Morgan Chase & Co set a $78.00 price target on Alkermes PLC and gave the company a “buy” rating in a research report on Saturday, July 1st. Finally, Credit Suisse Group set a $70.00 target price on Alkermes PLC and gave the stock a “buy” rating in a research report on Friday, May 19th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $63.00.
In other Alkermes PLC news, Director Paul J. Mitchell sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $57.49, for a total transaction of $86,235.00. Following the sale, the director now owns 9,500 shares in the company, valued at $546,155. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard F. Pops sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $58.19, for a total value of $2,909,500.00. Following the sale, the director now owns 680,406 shares in the company, valued at approximately $39,592,825.14. The disclosure for this sale can be found here. Insiders have sold 99,500 shares of company stock worth $5,776,365 in the last 90 days. 5.34% of the stock is currently owned by insiders.
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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