Allspring Global Investments Holdings LLC trimmed its holdings in Alkermes plc (NASDAQ:ALKS – Get Rating) by 75.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 20,145 shares of the company’s stock after selling 63,217 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Alkermes were worth $449,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Xponance Inc. increased its position in Alkermes by 7.9% in the 3rd quarter. Xponance Inc. now owns 9,737 shares of the company’s stock valued at $217,000 after acquiring an additional 711 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in shares of Alkermes by 132.0% during the second quarter. Exchange Traded Concepts LLC now owns 1,506 shares of the company’s stock valued at $45,000 after purchasing an additional 857 shares during the last quarter. Neo Ivy Capital Management bought a new stake in shares of Alkermes during the second quarter valued at approximately $27,000. Ensign Peak Advisors Inc increased its holdings in shares of Alkermes by 3.1% in the first quarter. Ensign Peak Advisors Inc now owns 31,000 shares of the company’s stock valued at $816,000 after purchasing an additional 930 shares in the last quarter. Finally, Trust Co. of Vermont bought a new position in Alkermes in the 2nd quarter worth approximately $30,000. Institutional investors and hedge funds own 96.15% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have commented on ALKS. Mizuho increased their price objective on Alkermes from $34.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, November 22nd. StockNews.com lowered Alkermes from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 2nd. Bank of America upped their target price on shares of Alkermes from $27.00 to $28.00 in a research report on Sunday, January 8th. Piper Sandler upgraded shares of Alkermes from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $26.00 to $30.00 in a research report on Thursday, November 3rd. Finally, JPMorgan Chase & Co. dropped their price target on shares of Alkermes from $33.00 to $29.00 and set a “neutral” rating for the company in a research note on Tuesday, December 6th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $30.10.
Alkermes Stock Down 1.4 %
Alkermes (NASDAQ:ALKS – Get Rating) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.01). The firm 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%. Alkermes’s quarterly revenue was down 14.2% on a year-over-year basis. During the same period last year, the firm earned ($0.02) EPS. As a group, sell-side analysts anticipate that Alkermes plc will post -0.29 EPS for the current year.
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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