Raymond James & Associates Sells 10,642 Shares of Alkermes Plc (ALKS)
Raymond James & Associates reduced its position in Alkermes Plc (NASDAQ:ALKS) by 30.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,717 shares of the company’s stock after selling 10,642 shares during the quarter. Raymond James & Associates’ holdings in Alkermes were worth $1,017,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. Rhumbline Advisers increased its position in Alkermes by 2.0% in the second quarter. Rhumbline Advisers now owns 163,757 shares of the company’s stock worth $6,740,000 after buying an additional 3,236 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in Alkermes by 5.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 567,198 shares of the company’s stock worth $23,346,000 after buying an additional 30,410 shares during the last quarter. Van ECK Associates Corp increased its position in Alkermes by 4.7% in the second quarter. Van ECK Associates Corp now owns 126,272 shares of the company’s stock worth $5,197,000 after buying an additional 5,629 shares during the last quarter. Teacher Retirement System of Texas increased its position in Alkermes by 6.0% in the second quarter. Teacher Retirement System of Texas now owns 41,859 shares of the company’s stock worth $1,723,000 after buying an additional 2,387 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Alkermes in the second quarter worth $3,398,000.
In related news, Director Paul J. Mitchell sold 1,000 shares of the business’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $44.58, for a total transaction of $44,580.00. Following the completion of the transaction, the director now directly owns 8,000 shares in the company, valued at $356,640. The transaction was disclosed in a document filed with the SEC, which is available through this link. Over the last 90 days, insiders have sold 3,000 shares of company stock valued at $130,680. 5.34% of the stock is owned by company insiders.
Alkermes (NASDAQ:ALKS) last posted its earnings results on Thursday, July 26th. The company reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.40. Alkermes had a negative return on equity of 0.29% and a negative net margin of 13.81%. The business had revenue of $304.64 million during the quarter, compared to analysts’ expectations of $261.58 million. During the same period in the previous year, the business earned $0.01 earnings per share. The firm’s revenue was up 39.2% on a year-over-year basis. On average, research analysts forecast that Alkermes Plc will post -0.67 EPS for the current year.
ALKS has been the subject of a number of recent research reports. BidaskClub downgraded Alkermes from a “hold” rating to a “sell” rating in a research report on Wednesday, September 19th. Morgan Stanley downgraded Alkermes from an “equal weight” rating to an “underweight” rating in a research report on Thursday, June 28th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Alkermes in a research report on Sunday, July 8th. Bank of America decreased their target price on Alkermes from $56.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, July 27th. Finally, Zacks Investment Research upgraded Alkermes from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research report on Wednesday, October 10th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. Alkermes currently has an average rating of “Hold” and a consensus price target of $55.43.
Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in various therapeutic areas in the United States, Ireland, and internationally. The company's marketed products include ARISTADA (aripiprazole lauroxil), an extended-release intramuscular injectable suspension for the treatment of schizophrenia; VIVITROL (naltrexone for extended-release injectable suspension) for the treatment of alcohol and opioid dependence; INVEGA SUSTENNA for the treatment of schizophrenia and schizoaffective disorder; XEPLION, INVEGA TRINZA, and TREVICTA for treating schizophrenia; RISPERDAL CONSTA for the treatment of schizophrenia and bipolar I disorder; AMPYRA (dalfampridine)/FAMPYRA (fampridine) to enhance walking in adults with multiple sclerosis (MS) who have walking disability; and BYDUREON (exenatide extended-release for injectable suspension) and BYDUREON BCise for the treatment of type 2 diabetes.
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