Nuveen Asset Management LLC Cuts Stake in Alkermes PLC (ALKS)

Nuveen Asset Management LLC cut its position in shares of Alkermes PLC (NASDAQ:ALKS) by 3.6% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 14,922 shares of the company’s stock after selling 552 shares during the period. Nuveen Asset Management LLC’s holdings in Alkermes PLC were worth $873,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC raised its stake in shares of Alkermes PLC by 0.4% in the first quarter. FMR LLC now owns 22,882,118 shares of the company’s stock worth $1,338,604,000 after buying an additional 86,546 shares during the period. Creative Planning raised its stake in shares of Alkermes PLC by 16.2% in the first quarter. Creative Planning now owns 18,012 shares of the company’s stock worth $1,054,000 after buying an additional 2,510 shares during the period. Sei Investments Co. raised its stake in shares of Alkermes PLC by 32.6% in the first quarter. Sei Investments Co. now owns 90,325 shares of the company’s stock worth $5,284,000 after buying an additional 22,228 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in shares of Alkermes PLC by 4.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 17,505 shares of the company’s stock worth $1,024,000 after buying an additional 795 shares during the period. Finally, Capstone Asset Management Co. raised its stake in shares of Alkermes PLC by 8.0% in the first quarter. Capstone Asset Management Co. now owns 6,585 shares of the company’s stock worth $385,000 after buying an additional 490 shares during the period. 97.67% of the stock is owned by hedge funds and other institutional investors.

Shares of Alkermes PLC (NASDAQ ALKS) traded up 0.33% during midday trading on Friday, reaching $54.10. The company had a trading volume of 120,789 shares. The firm’s market capitalization is $8.31 billion. Alkermes PLC has a one year low of $41.93 and a one year high of $63.40. The company has a 50 day moving average price of $57.87 and a 200-day moving average price of $57.45.

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

COPYRIGHT VIOLATION WARNING: “[[title]]” was originally posted by [[site]] and is the property of of [[site]]. If you are reading this report on another site, it was illegally stolen and republished in violation of United States & international copyright and trademark legislation. The original version of this report can be viewed at [[permalink]].

ALKS has been the topic of a number of research reports. J P Morgan Chase & Co set a $78.00 price target on Alkermes PLC and gave the company a “buy” rating in a report on Thursday, April 27th. Credit Suisse Group restated a “buy” rating and issued a $70.00 price target on shares of Alkermes PLC in a report on Wednesday, June 7th. Cowen and Company restated a “buy” rating on shares of Alkermes PLC in a report on Friday, April 28th. Leerink Swann lowered Alkermes PLC from an “outperform” rating to a “market perform” rating and cut their price target for the company from $68.00 to $61.00 in a report on Tuesday, June 13th. Finally, ValuEngine upgraded Alkermes PLC from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. Alkermes PLC presently has an average rating of “Hold” and a consensus price target of $62.20.

In related news, insider Shane Cooke sold 10,000 shares of the company’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $60.33, for a total value of $603,300.00. Following the completion of the transaction, the insider now directly owns 84,708 shares in the company, valued at $5,110,433.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul J. Mitchell sold 1,500 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $54.91, for a total transaction of $82,365.00. Following the completion of the transaction, the director now owns 9,500 shares of the company’s stock, valued at $521,645. The disclosure for this sale can be found here. Insiders have sold a total of 134,500 shares of company stock valued at $7,778,715 over the last 90 days. Company insiders own 5.34% of the company’s stock.

Alkermes PLC Company 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).