Alkermes PLC (ALKS) Stake Lowered by Mackenzie Financial Corp

Mackenzie Financial Corp decreased its position in Alkermes PLC (NASDAQ:ALKS) by 3.2% during the first quarter, Holdings Channel reports. The fund owned 3,508 shares of the company’s stock after selling 116 shares during the period. Mackenzie Financial Corp’s holdings in Alkermes PLC were worth $205,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Primecap Management Co. CA boosted its stake in Alkermes PLC by 23.2% in the first quarter. Primecap Management Co. CA now owns 7,856,543 shares of the company’s stock worth $459,608,000 after buying an additional 1,480,273 shares during the last quarter. Norges Bank acquired a new stake in Alkermes PLC during the fourth quarter worth approximately $44,274,000. Jennison Associates LLC acquired a new stake in Alkermes PLC during the first quarter worth approximately $24,100,000. First Trust Advisors LP boosted its stake in Alkermes PLC by 41.3% in the first quarter. First Trust Advisors LP now owns 712,071 shares of the company’s stock worth $41,656,000 after buying an additional 208,132 shares during the last quarter. Finally, KBC Group NV boosted its stake in Alkermes PLC by 141.8% in the first quarter. KBC Group NV now owns 225,966 shares of the company’s stock worth $13,219,000 after buying an additional 132,525 shares during the last quarter. Institutional investors own 97.75% of the company’s stock.

Institutional Ownership by Quarter for Alkermes PLC (NASDAQ:ALKS)

Shares of Alkermes PLC (NASDAQ ALKS) opened at 58.47 on Friday. Alkermes PLC has a one year low of $39.65 and a one year high of $63.40. The company has a 50-day moving average price of $58.54 and a 200 day moving average price of $57.19. The stock’s market cap is $8.96 billion.

Alkermes PLC (NASDAQ:ALKS) last posted its quarterly earnings data on Thursday, April 27th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.24) by $0.07. Alkermes PLC had a negative return on equity of 9.76% and a negative net margin of 25.61%. The company had revenue of $191.80 million during the quarter, compared to the consensus estimate of $195.79 million. During the same period last year, the business earned ($0.16) EPS. The firm’s quarterly revenue was up 22.3% compared to the same quarter last year. Equities research analysts expect that Alkermes PLC will post ($0.04) earnings per share for the current year.

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ALKS has been the topic of a number of recent analyst reports. J P Morgan Chase & Co set a $78.00 target price on Alkermes PLC and gave the stock a “buy” rating in a research note on Thursday, April 27th. Cowen and Company reiterated a “positive” rating and set a $65.00 target price on shares of Alkermes PLC in a research note on Tuesday, March 21st. Cantor Fitzgerald reiterated a “neutral” rating and set a $51.00 target price on shares of Alkermes PLC in a research note on Thursday, March 16th. Jefferies Group LLC reiterated a “buy” rating and set a $70.00 target price on shares of Alkermes PLC in a research note on Monday, April 3rd. Finally, Credit Suisse Group set a $70.00 target price on Alkermes PLC and gave the stock a “buy” rating in a research note on Friday, May 19th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Alkermes PLC currently has an average rating of “Hold” and a consensus target price of $63.10.

In related news, insider Shane Cooke sold 2,070 shares of the stock in a transaction dated Wednesday, March 29th. The stock was sold at an average price of $60.00, for a total transaction of $124,200.00. Following the completion of the sale, the insider now owns 72,148 shares in the company, valued at $4,328,880. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael J. Landine sold 10,000 shares of the stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $57.01, for a total value of $570,100.00. Following the sale, the senior vice president now owns 172,370 shares of the company’s stock, valued at approximately $9,826,813.70. The disclosure for this sale can be found here. Insiders sold 166,570 shares of company stock worth $9,642,375 in the last ninety days. Corporate insiders own 5.34% of the company’s stock.

Alkermes PLC Company Profile

Alkermes plc is a biopharmaceutical company. The Company is engaged in the researching, developing and commercializing pharmaceutical products that are designed to address medical needs of patients in therapeutic areas. The Company has a portfolio of marketed drug products and a clinical pipeline of products that address central nervous system (CNS) disorders, such as schizophrenia, depression, addiction and multiple sclerosis (MS).new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:ALKS”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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