Tamarack Advisers LP Has $1.74 Million Stake in Alkermes PLC (ALKS)
Tamarack Advisers LP decreased its position in Alkermes PLC (NASDAQ:ALKS) by 62.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,000 shares of the company’s stock after selling 50,000 shares during the period. Alkermes PLC accounts for 1.0% of Tamarack Advisers LP’s holdings, making the stock its 23rd largest position. Tamarack Advisers LP’s holdings in Alkermes PLC were worth $1,739,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. Daiwa SB Investments Ltd. acquired a new stake in shares of Alkermes PLC during the second quarter worth $166,000. Greenwood Capital Associates LLC increased its stake in shares of Alkermes PLC by 2.4% in the first quarter. Greenwood Capital Associates LLC now owns 3,729 shares of the company’s stock worth $218,000 after buying an additional 89 shares during the last quarter. US Bancorp DE increased its stake in shares of Alkermes PLC by 366.4% in the second quarter. US Bancorp DE now owns 3,974 shares of the company’s stock worth $231,000 after buying an additional 3,122 shares during the last quarter. Insight Capital Research & Management Inc. acquired a new stake in shares of Alkermes PLC during the second quarter worth $232,000. Finally, Aviance Capital Partners LLC acquired a new stake in shares of Alkermes PLC during the second quarter worth $232,000. Institutional investors own 97.19% of the company’s stock.
Shares of Alkermes PLC (NASDAQ:ALKS) traded down 0.14% on Friday, hitting $50.42. The company had a trading volume of 589,872 shares. Alkermes PLC has a 52 week low of $41.93 and a 52 week high of $63.40. The stock’s market capitalization is $7.75 billion. The firm’s 50 day moving average price is $54.65 and its 200-day moving average price is $56.99.
Alkermes PLC (NASDAQ:ALKS) last issued its quarterly earnings results on Thursday, July 27th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $218.80 million for the quarter, compared to the consensus estimate of $216.54 million. During the same period in the prior year, the firm posted ($0.01) earnings per share. The business’s quarterly revenue was up 12.1% on a year-over-year basis. Analysts forecast that Alkermes PLC will post ($0.04) earnings per share for the current fiscal year.
A number of equities research analysts have weighed in on the company. Zacks Investment Research upgraded Alkermes PLC from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. ValuEngine downgraded Alkermes PLC from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Leerink Swann downgraded Alkermes PLC from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $68.00 to $61.00 in a report on Tuesday, June 13th. Credit Suisse Group restated a “buy” rating and set a $70.00 price objective on shares of Alkermes PLC in a report on Wednesday, June 7th. Finally, BidaskClub downgraded Alkermes PLC from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $62.89.
In other Alkermes PLC news, insider Shane Cooke sold 10,000 shares of the stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $60.33, for a total transaction of $603,300.00. Following the sale, the insider now directly owns 84,708 shares of the company’s stock, valued at approximately $5,110,433.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul J. Mitchell sold 1,500 shares of the stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $58.11, for a total value of $87,165.00. Following the sale, the director now directly owns 9,500 shares in the company, valued at $552,045. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,500 shares of company stock worth $859,065. 5.34% of the stock is 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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