Charles Schwab Investment Management Inc. Sells 21,558 Shares of Alkermes plc (NASDAQ:ALKS)

Charles Schwab Investment Management Inc. cut its stake in Alkermes plc (NASDAQ:ALKS) by 1.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,047,403 shares of the company’s stock after selling 21,558 shares during the period. Charles Schwab Investment Management Inc. owned 1.24% of Alkermes worth $67,605,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. USA Financial Formulas acquired a new stake in shares of Alkermes during the 1st quarter worth approximately $49,000. Fifth Third Bancorp boosted its holdings in shares of Alkermes by 54.4% in the first quarter. Fifth Third Bancorp now owns 1,479 shares of the company’s stock valued at $49,000 after buying an additional 521 shares during the period. GF Fund Management CO. LTD. acquired a new position in shares of Alkermes in the fourth quarter valued at approximately $98,000. GAMMA Investing LLC boosted its holdings in shares of Alkermes by 31.9% in the first quarter. GAMMA Investing LLC now owns 5,396 shares of the company’s stock valued at $178,000 after buying an additional 1,305 shares during the period. Finally, Farringdon Capital Ltd. acquired a new stake in shares of Alkermes in the fourth quarter valued at approximately $204,000. Institutional investors own 95.21% of the company’s stock.

Insider Transactions at Alkermes

In related news, SVP Christian Todd Nichols sold 3,334 shares of the business’s stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $31.09, for a total value of $103,654.06. Following the sale, the senior vice president directly owned 86,208 shares in the company, valued at approximately $2,680,206.72. The trade was a 3.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.40% of the company’s stock.

Analyst Upgrades and Downgrades

ALKS has been the topic of a number of recent research reports. Wall Street Zen downgraded shares of Alkermes from a “strong-buy” rating to a “buy” rating in a report on Monday, May 5th. The Goldman Sachs Group started coverage on shares of Alkermes in a research note on Tuesday, July 15th. They set a “buy” rating and a $43.00 target price for the company. UBS Group upgraded shares of Alkermes from a “neutral” rating to a “buy” rating and upped their price target for the company from $33.00 to $42.00 in a research note on Tuesday, June 17th. Royal Bank Of Canada upped their price target on shares of Alkermes from $40.00 to $42.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 30th. Finally, Robert W. Baird upped their price target on shares of Alkermes from $38.00 to $41.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $41.08.

Alkermes Trading Down 1.3%

Shares of NASDAQ:ALKS opened at $28.26 on Friday. The stock’s fifty day simple moving average is $28.58 and its two-hundred day simple moving average is $30.57. Alkermes plc has a 1-year low of $25.56 and a 1-year high of $36.45. The stock has a market cap of $4.67 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 1.64 and a beta of 0.47.

Alkermes (NASDAQ:ALKS) last released its earnings results on Tuesday, July 29th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.10. Alkermes had a return on equity of 24.86% and a net margin of 23.15%. The company had revenue of $390.66 million for the quarter, compared to analysts’ expectations of $343.20 million. During the same period in the previous year, the business posted $1.16 EPS. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. On average, sell-side analysts forecast that Alkermes plc will post 1.31 earnings per share for the current fiscal year.

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.