PNC Financial Services Group Inc. Has $408,000 Stock Holdings in Alkermes plc (NASDAQ:ALKS)

PNC Financial Services Group Inc. increased its position in shares of Alkermes plc (NASDAQ:ALKS) by 3.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,352 shares of the company’s stock after acquiring an additional 451 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Alkermes were worth $408,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in ALKS. USA Financial Formulas acquired a new position in shares of Alkermes during the first quarter valued at $49,000. Fifth Third Bancorp increased its holdings in 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 purchasing an additional 521 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in Alkermes in the fourth quarter valued at about $98,000. GAMMA Investing LLC increased its holdings in 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 purchasing an additional 1,305 shares during the last quarter. Finally, Farringdon Capital Ltd. bought a new stake in Alkermes in the fourth quarter valued at about $204,000. Institutional investors and hedge funds own 95.21% of the company’s stock.

Insider Buying and Selling

In related news, SVP Christian Todd Nichols sold 3,334 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $31.09, for a total transaction of $103,654.06. Following the completion of the transaction, the senior vice president directly owned 86,208 shares of the company’s stock, valued at approximately $2,680,206.72. This represents a 3.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 4.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Wall Street Zen downgraded Alkermes from a “strong-buy” rating to a “buy” rating in a report on Monday, May 5th. The Goldman Sachs Group assumed coverage on Alkermes in a report on Tuesday, July 15th. They issued a “buy” rating and a $43.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 price objective on shares of Alkermes in a report on Tuesday, July 29th. HC Wainwright reiterated a “neutral” rating and issued a $46.00 price objective on shares of Alkermes in a report on Monday, July 21st. Finally, Royal Bank Of Canada upped their price objective on Alkermes from $40.00 to $42.00 and gave the company a “sector perform” rating in a report on Wednesday, July 30th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Alkermes has a consensus rating of “Moderate Buy” and an average price target of $41.08.

Alkermes Price Performance

ALKS stock opened at $28.26 on Friday. The stock has a market capitalization of $4.67 billion, a P/E ratio of 13.59, a P/E/G ratio of 1.64 and a beta of 0.47. The business has a 50-day moving average of $28.58 and a 200-day moving average of $30.57. Alkermes plc has a fifty-two week low of $25.56 and a fifty-two week high of $36.45.

Alkermes (NASDAQ:ALKS) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $343.20 million. During the same period in the prior year, the firm earned $1.16 earnings per share. Alkermes’s revenue for the quarter was down 2.1% compared to the same quarter last year. Equities analysts expect that Alkermes plc will post 1.31 EPS for the current 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.