Alkermes plc (NASDAQ:ALKS) Shares Sold by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System cut its holdings in Alkermes plc (NASDAQ:ALKSGet Rating) by 3.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 59,850 shares of the company’s stock after selling 2,420 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Alkermes were worth $1,783,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. DekaBank Deutsche Girozentrale acquired a new stake in shares of Alkermes in the first quarter worth $1,099,000. SG Americas Securities LLC boosted its position in Alkermes by 4.5% during the 1st quarter. SG Americas Securities LLC now owns 65,921 shares of the company’s stock worth $1,734,000 after purchasing an additional 2,835 shares during the period. Steward Partners Investment Advisory LLC increased its holdings in Alkermes by 100.0% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the company’s stock valued at $26,000 after purchasing an additional 500 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Alkermes by 23.4% in the first quarter. Envestnet Asset Management Inc. now owns 17,769 shares of the company’s stock valued at $468,000 after purchasing an additional 3,364 shares during the period. Finally, California Public Employees Retirement System lifted its stake in shares of Alkermes by 0.7% during the first quarter. California Public Employees Retirement System now owns 307,008 shares of the company’s stock worth $8,077,000 after purchasing an additional 2,026 shares in the last quarter. Hedge funds and other institutional investors own 94.77% of the company’s stock.

Alkermes Trading Down 0.9 %

ALKS opened at $22.38 on Thursday. The stock has a market capitalization of $3.68 billion, a PE ratio of -28.69 and a beta of 0.60. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.24 and a quick ratio of 1.89. Alkermes plc has a 12-month low of $21.24 and a 12-month high of $32.79. The firm’s fifty day moving average price is $22.97 and its 200 day moving average price is $26.14.

Alkermes (NASDAQ:ALKSGet Rating) last issued its earnings results on Wednesday, November 2nd. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The company had revenue of $252.36 million during the quarter, compared to analyst estimates of $271.45 million. Alkermes had a negative net margin of 11.41% and a negative return on equity of 1.10%. The business’s revenue for the quarter was down 14.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.02) EPS. As a group, research analysts expect that Alkermes plc will post -0.32 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ALKS shares. Bank of America upgraded Alkermes from an “underperform” rating to a “neutral” rating and lowered their target price for the company from $27.00 to $25.00 in a research note on Friday, October 14th. Mizuho dropped their price objective on shares of Alkermes from $36.00 to $34.00 and set a “buy” rating on the stock in a research note on Thursday, July 28th. Stifel Nicolaus upped their target price on shares of Alkermes to $28.00 in a research note on Wednesday, July 27th. Piper Sandler raised shares of Alkermes from a “neutral” rating to an “overweight” rating and raised their price target for the company from $26.00 to $30.00 in a report on Thursday, November 3rd. Finally, StockNews.com lowered shares of Alkermes from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 2nd. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Alkermes currently has an average rating of “Moderate Buy” and a consensus target price of $29.67.

About Alkermes

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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. Its marketed products include ARISTADA, an intramuscular injectable suspension for the treatment of schizophrenia; VIVITROL for the treatment of alcohol and prevention of opioid dependence; RISPERDAL CONSTA for the treatment of schizophrenia and bipolar I disorder; INVEGA SUSTENNA for the treatment of schizophrenia and schizoaffective disorder; XEPLION, INVEGA TRINZA, and TREVICTA to treat schizophrenia and schizoaffective; and VUMERITY for the treatment of relapsing forms of multiple sclerosis in adults, including clinically isolated syndrome, relapsing-remitting and active secondary progressive diseases.

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Institutional Ownership by Quarter for Alkermes (NASDAQ:ALKS)

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