State Street Corp decreased its position in Alkermes PLC (NASDAQ:ALKS) by 1.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,934,797 shares of the company’s stock after selling 39,205 shares during the period. State Street Corp owned approximately 2.56% of Alkermes PLC worth $228,106,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Atlantic Trust Group LLC raised its holdings in shares of Alkermes PLC by 4.9% during the second quarter. Atlantic Trust Group LLC now owns 167,717 shares of the company’s stock valued at $9,722,000 after purchasing an additional 7,807 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Alkermes PLC by 1.7% during the second quarter. Bank of New York Mellon Corp now owns 1,377,593 shares of the company’s stock valued at $79,859,000 after purchasing an additional 23,506 shares during the period. Legal & General Group Plc raised its holdings in shares of Alkermes PLC by 10.2% during the second quarter. Legal & General Group Plc now owns 654,744 shares of the company’s stock valued at $37,956,000 after purchasing an additional 60,624 shares during the period. Tredje AP fonden raised its holdings in shares of Alkermes PLC by 85.5% during the second quarter. Tredje AP fonden now owns 30,510 shares of the company’s stock valued at $1,769,000 after purchasing an additional 14,060 shares during the period. Finally, Aviva PLC raised its holdings in shares of Alkermes PLC by 5.4% during the second quarter. Aviva PLC now owns 88,159 shares of the company’s stock valued at $5,111,000 after purchasing an additional 4,525 shares during the period. Institutional investors and hedge funds own 98.51% of the company’s stock.

Several brokerages have recently weighed in on ALKS. J P Morgan Chase & Co set a $78.00 price objective on shares of Alkermes PLC and gave the company a “buy” rating in a report on Saturday, July 1st. ValuEngine lowered shares of Alkermes PLC from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Zacks Investment Research upgraded shares of Alkermes PLC from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. BidaskClub lowered shares of Alkermes PLC from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Finally, Jefferies Group LLC set a $69.00 price objective on shares of Alkermes PLC and gave the company a “buy” rating in a report on Friday, August 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $62.56.

In related news, Director Paul J. Mitchell sold 1,500 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $54.91, for a total value of $82,365.00. Following the completion of the transaction, the director now directly owns 9,500 shares of the company’s stock, valued at approximately $521,645. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Kathryn L. Biberstein sold 13,566 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $51.29, for a total transaction of $695,800.14. Following the completion of the transaction, the chief accounting officer now directly owns 70,455 shares of the company’s stock, valued at $3,613,636.95. The disclosure for this sale can be found here. Insiders sold a total of 18,066 shares of company stock valued at $930,280 over the last ninety days. 5.34% of the stock is currently owned by insiders.

COPYRIGHT VIOLATION WARNING: “Alkermes PLC (ALKS) Position Cut by State Street Corp” was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this piece of content on another publication, it was illegally stolen and reposted in violation of US & international copyright law. The correct version of this piece of content can be viewed at https://www.thecerbatgem.com/2017/10/18/alkermes-plc-alks-position-cut-by-state-street-corp.html.

Shares of Alkermes PLC (NASDAQ:ALKS) opened at 51.48 on Wednesday. The company’s market capitalization is $7.91 billion. The stock has a 50 day moving average of $51.08 and a 200-day moving average of $55.51. Alkermes PLC has a 52 week low of $41.93 and a 52 week high of $63.40.

Alkermes PLC (NASDAQ:ALKS) last announced its quarterly earnings data on Thursday, July 27th. The company reported $0.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. The firm had revenue of $218.80 million during the quarter, compared to analyst estimates of $216.54 million. Alkermes PLC had a negative net margin of 24.33% and a negative return on equity of 9.12%. Alkermes PLC’s revenue was up 12.1% on a year-over-year basis. During the same period last year, the firm posted ($0.01) EPS. On average, analysts anticipate that Alkermes PLC will post ($0.04) EPS for the current year.

Alkermes PLC Profile

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).

Institutional Ownership by Quarter for Alkermes PLC (NASDAQ:ALKS)

Receive News & Stock Ratings for Alkermes PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alkermes PLC and related stocks with our FREE daily email newsletter.