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

Todd Asset Management LLC lessened its stake in Alkermes plc (NASDAQ:ALKS) by 18.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,560 shares of the company’s stock after selling 30,957 shares during the period. Todd Asset Management LLC owned 0.08% of Alkermes worth $3,841,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in ALKS. Creative Planning boosted its holdings in shares of Alkermes by 51.7% in the third quarter. Creative Planning now owns 50,629 shares of the company’s stock valued at $1,417,000 after acquiring an additional 17,264 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position 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 valued at $164,000 after purchasing an additional 904 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in Alkermes during the 3rd quarter worth $281,000. Nisa Investment Advisors LLC grew its position in Alkermes by 1.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 91,159 shares of the company’s stock worth $2,552,000 after purchasing an additional 1,431 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its stake in Alkermes by 59.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 31,671 shares of the company’s stock valued at $886,000 after purchasing an additional 11,789 shares during the period. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Alkermes Stock Down 1.7 %

Shares of ALKS opened at $34.93 on Wednesday. Alkermes plc has a 52-week low of $22.90 and a 52-week high of $36.45. The company has a 50-day simple moving average of $31.07 and a 200-day simple moving average of $29.23. The company has a market capitalization of $5.68 billion, a PE ratio of 16.10, a P/E/G ratio of 2.20 and a beta of 0.49.

Alkermes (NASDAQ:ALKS) last issued its earnings results on Wednesday, February 12th. The company reported $0.92 earnings per share (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%. On average, research analysts anticipate that Alkermes plc will post 1.31 EPS for the current year.

Insider Buying and Selling

In related news, EVP Craig C. Hopkinson sold 9,221 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $31.50, for a total value of $290,461.50. Following the sale, the executive vice president now directly owns 59,730 shares of the company’s stock, valued at approximately $1,881,495. This represents a 13.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Cato T. Laurencin sold 2,691 shares of Alkermes stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $31.85, for a total transaction of $85,708.35. Following the transaction, the director now owns 23,013 shares of the company’s stock, valued at approximately $732,964.05. The trade was a 10.47 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 318,400 shares of company stock valued at $10,702,911. 4.89% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ALKS has been the subject of several recent research reports. Stifel Nicolaus upgraded shares of Alkermes from a “hold” rating to a “buy” rating and increased their target price for the stock from $25.00 to $36.00 in a research note on Tuesday, November 5th. Mizuho increased their price objective on Alkermes from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. HC Wainwright reiterated a “neutral” rating and issued a $46.00 target price on shares of Alkermes in a research note on Thursday, February 13th. The Goldman Sachs Group upped their price target on Alkermes from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Alkermes in a research report on Tuesday, February 11th. They issued a “buy” rating and a $40.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.36.

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.