Todd Asset Management LLC Trims Stock Holdings in Alkermes plc (NASDAQ:ALKS)

Todd Asset Management LLC lessened its stake in shares of Alkermes plc (NASDAQ:ALKS) by 18.8% in the fourth quarter, HoldingsChannel reports. The firm owned 133,560 shares of the company’s stock after selling 30,957 shares during the quarter. Todd Asset Management LLC’s holdings in Alkermes were worth $3,841,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC acquired a new stake in shares of Alkermes during the 4th quarter worth about $25,000. Blue Trust Inc. lifted its stake in shares of Alkermes by 2,231.5% during the fourth quarter. Blue Trust Inc. now owns 1,702 shares of the company’s stock valued at $49,000 after buying an additional 1,629 shares during the period. Archer Investment Corp boosted its position in Alkermes by 28.6% during the third quarter. Archer Investment Corp now owns 4,500 shares of the company’s stock worth $126,000 after acquiring an additional 1,000 shares during the last quarter. KBC Group NV boosted its position in Alkermes by 18.8% during the third quarter. KBC Group NV now owns 4,890 shares of the company’s stock worth $137,000 after acquiring an additional 774 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Alkermes by 17.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,956 shares of the company’s stock worth $164,000 after acquiring an additional 904 shares during the period. Institutional investors and hedge funds own 95.21% of the company’s stock.

Alkermes Stock Performance

NASDAQ ALKS opened at $34.93 on Wednesday. The firm has a market capitalization of $5.68 billion, a price-to-earnings ratio of 16.10, a PEG ratio of 2.20 and a beta of 0.49. Alkermes plc has a one year low of $22.90 and a one year high of $36.45. The company’s 50 day moving average price is $31.07 and its 200 day moving average price is $29.23.

Alkermes (NASDAQ:ALKS) last issued its earnings results on Wednesday, February 12th. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.11. Alkermes had a net margin of 23.57% and a return on equity of 30.80%. Sell-side analysts forecast that Alkermes plc will post 1.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ALKS has been the topic of a number of recent analyst reports. Mizuho increased their price target on Alkermes from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Stifel Nicolaus raised Alkermes from a “hold” rating to a “buy” rating and raised their price target for the stock from $25.00 to $36.00 in a research note on Tuesday, November 5th. The Goldman Sachs Group lifted their price target on Alkermes from $30.00 to $32.00 and gave the company a “buy” rating in a report on Friday, February 14th. Deutsche Bank Aktiengesellschaft started coverage on shares of Alkermes in a report on Tuesday, February 11th. They set a “buy” rating and a $40.00 price objective on the stock. Finally, HC Wainwright reissued a “neutral” rating and issued a $46.00 target price on shares of Alkermes in a research report on Thursday, February 13th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Alkermes presently has an average rating of “Moderate Buy” and a consensus price target of $38.36.

Insider Buying and Selling at Alkermes

In other Alkermes news, EVP Craig C. Hopkinson sold 61,151 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $32.07, for a total value of $1,961,112.57. Following the completion of the sale, the executive vice president now owns 47,576 shares of the company’s stock, valued at $1,525,762.32. This trade represents a 56.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Cato T. Laurencin sold 2,691 shares of Alkermes stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $31.85, for a total transaction of $85,708.35. Following the sale, the director now owns 23,013 shares in the company, valued at $732,964.05. This represents a 10.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 318,400 shares of company stock valued at $10,702,911 over the last three months. 4.89% of the stock is owned by company insiders.

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.