Alkermes plc (NASDAQ:ALKS) Stake Lessened by UMB Bank n.a.

UMB Bank n.a. lowered its holdings in Alkermes plc (NASDAQ:ALKS) by 34.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 922 shares of the company’s stock after selling 485 shares during the period. UMB Bank n.a.’s holdings in Alkermes were worth $30,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. RTW Investments LP lifted its holdings in shares of Alkermes by 13.6% in the fourth quarter. RTW Investments LP now owns 7,557,835 shares of the company’s stock valued at $217,363,000 after purchasing an additional 903,802 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Alkermes by 1.1% during the fourth quarter. Renaissance Technologies LLC now owns 5,478,728 shares of the company’s stock worth $157,568,000 after acquiring an additional 57,697 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Alkermes by 6.5% during the fourth quarter. American Century Companies Inc. now owns 3,450,707 shares of the company’s stock worth $99,242,000 after acquiring an additional 209,740 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Alkermes by 4.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,019,508 shares of the company’s stock worth $86,842,000 after acquiring an additional 128,701 shares in the last quarter. Finally, Avoro Capital Advisors LLC purchased a new stake in shares of Alkermes during the fourth quarter worth $70,462,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Alkermes Stock Down 3.1%

ALKS stock opened at $29.83 on Monday. The company has a market cap of $4.92 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 2.20 and a beta of 0.47. Alkermes plc has a twelve month low of $22.90 and a twelve month high of $36.45. The business’s 50-day simple moving average is $29.66 and its 200 day simple moving average is $31.04.

Alkermes (NASDAQ:ALKS) last posted its earnings results on Thursday, May 1st. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.19). Alkermes had a net margin of 23.57% and a return on equity of 30.80%. The firm had revenue of $306.51 million during the quarter, compared to the consensus estimate of $307.53 million. During the same quarter last year, the firm posted $0.43 EPS. The business’s revenue was down 12.6% on a year-over-year basis. On average, equities research analysts anticipate that Alkermes plc will post 1.31 EPS for the current year.

Insider Buying and Selling

In other Alkermes news, SVP Christian Todd Nichols sold 3,334 shares of Alkermes stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $31.09, for a total transaction of $103,654.06. Following the completion of the sale, the senior vice president now owns 86,208 shares of the company’s stock, valued at approximately $2,680,206.72. The trade was a 3.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the company. UBS Group reiterated a “sector perform” rating on shares of Alkermes in a report on Monday, April 28th. Robert W. Baird raised their target price on Alkermes from $38.00 to $41.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. HC Wainwright restated a “neutral” rating on shares of Alkermes in a report on Friday, May 2nd. Wall Street Zen lowered Alkermes from a “strong-buy” rating to a “buy” rating in a report on Monday, May 5th. Finally, Needham & Company LLC began coverage on Alkermes in a research report on Wednesday, May 28th. They issued a “buy” rating and a $45.00 price target on the stock. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.85.

Alkermes Company Profile

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.