UBS Group AG Has $7.54 Million Stake in Alkermes plc (NASDAQ:ALKS)

UBS Group AG lowered its position in Alkermes plc (NASDAQ:ALKSFree Report) by 33.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 271,757 shares of the company’s stock after selling 135,209 shares during the quarter. UBS Group AG owned approximately 0.16% of Alkermes worth $7,539,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP lifted its stake in Alkermes by 52.7% in the 3rd quarter. Wellington Management Group LLP now owns 11,746,792 shares of the company’s stock valued at $329,028,000 after purchasing an additional 4,055,926 shares during the last quarter. Norges Bank acquired a new stake in shares of Alkermes in the fourth quarter valued at approximately $55,548,000. Jupiter Asset Management Ltd. bought a new position in shares of Alkermes during the 3rd quarter worth approximately $36,171,000. RTW Investments LP acquired a new position in shares of Alkermes during the 3rd quarter worth approximately $24,903,000. Finally, Principal Financial Group Inc. increased its holdings in shares of Alkermes by 1,150.2% during the 4th quarter. Principal Financial Group Inc. now owns 939,542 shares of the company’s stock worth $26,063,000 after acquiring an additional 864,389 shares during the last quarter. Institutional investors own 95.21% of the company’s stock.

Insider Buying and Selling at Alkermes

In other news, SVP Christian Todd Nichols sold 10,417 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $28.10, for a total transaction of $292,717.70. Following the completion of the transaction, the senior vice president now owns 65,911 shares of the company’s stock, valued at approximately $1,852,099.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 4.89% of the company’s stock.

Alkermes Trading Down 1.7 %

ALKS opened at $23.65 on Wednesday. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of 9.35, a P/E/G ratio of 0.47 and a beta of 0.47. The company has a quick ratio of 2.77, a current ratio of 3.20 and a debt-to-equity ratio of 0.23. Alkermes plc has a twelve month low of $22.01 and a twelve month high of $33.71. The company has a 50-day simple moving average of $24.68 and a 200 day simple moving average of $26.65.

Alkermes (NASDAQ:ALKSGet Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.15). The firm had revenue of $350.37 million for the quarter, compared to the consensus estimate of $360.26 million. Alkermes had a return on equity of 20.31% and a net margin of 25.17%. The business’s revenue was up 21.8% on a year-over-year basis. During the same period last year, the company posted ($0.10) EPS. Analysts predict that Alkermes plc will post 2.27 EPS for the current fiscal year.

Alkermes declared that its Board of Directors has approved a stock buyback plan on Thursday, February 15th that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the company to buy up to 8.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ALKS shares. HC Wainwright reaffirmed a “neutral” rating and set a $35.00 price objective on shares of Alkermes in a research report on Tuesday. Cantor Fitzgerald increased their price target on shares of Alkermes from $43.00 to $48.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. TheStreet upgraded Alkermes from a “c+” rating to a “b” rating in a report on Thursday, February 15th. Jefferies Financial Group upped their target price on Alkermes from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Finally, UBS Group cut Alkermes from a “neutral” rating to a “sell” rating and set a $25.00 price target for the company. in a report on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $36.78.

View Our Latest Report on Alkermes

About Alkermes

(Free Report)

Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in therapeutic areas in the United States, Ireland, and internationally. It has a portfolio of proprietary commercial products for the treatment of alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder and a pipeline of clinical and preclinical product candidates in development for neurological disorders.

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Institutional Ownership by Quarter for Alkermes (NASDAQ:ALKS)

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