Franklin Resources Inc. cut its position in Alkermes Plc (NASDAQ:ALKS) by 1.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,148,600 shares of the company’s stock after selling 33,300 shares during the quarter. Franklin Resources Inc.’s holdings in Alkermes were worth $172,323,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. First Trust Advisors LP raised its position in Alkermes by 18.6% in the fourth quarter. First Trust Advisors LP now owns 800,752 shares of the company’s stock valued at $43,825,000 after purchasing an additional 125,309 shares during the last quarter. Bailard Inc. bought a new position in Alkermes in the fourth quarter valued at about $274,000. Schwab Charles Investment Management Inc. raised its position in Alkermes by 5.0% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 493,515 shares of the company’s stock valued at $27,011,000 after purchasing an additional 23,712 shares during the last quarter. Janus Henderson Group PLC raised its position in Alkermes by 13.7% in the third quarter. Janus Henderson Group PLC now owns 2,650,006 shares of the company’s stock valued at $134,726,000 after purchasing an additional 319,014 shares during the last quarter. Finally, AMP Capital Investors Ltd raised its position in Alkermes by 11.0% in the third quarter. AMP Capital Investors Ltd now owns 53,745 shares of the company’s stock valued at $2,732,000 after purchasing an additional 5,306 shares during the last quarter.
In related news, SVP Iain Michael Brown sold 10,652 shares of the firm’s stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $54.81, for a total transaction of $583,836.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul J. Mitchell sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $57.04, for a total value of $57,040.00. Following the sale, the director now directly owns 9,000 shares of the company’s stock, valued at approximately $513,360. The disclosure for this sale can be found here. Insiders have sold 125,433 shares of company stock valued at $7,942,327 in the last ninety days. 5.34% of the stock is currently owned by insiders.
A number of brokerages have recently issued reports on ALKS. Credit Suisse Group set a $66.00 price objective on Alkermes and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Morgan Stanley restated an “equal weight” rating and set a $67.00 price objective (up from $60.00) on shares of Alkermes in a research report on Friday, February 23rd. Cantor Fitzgerald restated a “hold” rating and set a $50.00 price objective on shares of Alkermes in a research report on Tuesday, February 20th. Citigroup set a $62.00 price objective on Alkermes and gave the stock a “hold” rating in a research report on Thursday, February 15th. Finally, Zacks Investment Research upgraded Alkermes from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research report on Monday, January 8th. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the company. Alkermes has a consensus rating of “Hold” and a consensus target price of $64.58.
Alkermes Plc (NASDAQ ALKS) opened at $60.53 on Tuesday. Alkermes Plc has a 1 year low of $46.42 and a 1 year high of $71.22. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.46 and a current ratio of 2.78. The stock has a market capitalization of $9,007.99, a PE ratio of -58.77 and a beta of 1.87.
Alkermes (NASDAQ:ALKS) last released its earnings results on Wednesday, February 14th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.32. Alkermes had a negative return on equity of 4.32% and a negative net margin of 17.48%. The business had revenue of $275.37 million during the quarter, compared to analysts’ expectations of $251.23 million. During the same quarter last year, the firm posted $0.02 earnings per share. The firm’s revenue was up 29.0% on a year-over-year basis. research analysts predict that Alkermes Plc will post -0.8 EPS for the current fiscal year.
COPYRIGHT VIOLATION WARNING: This article was first reported by Zolmax and is owned by of Zolmax. If you are accessing this article on another site, it was stolen and reposted in violation of US & international copyright & trademark law. The legal version of this article can be viewed at https://zolmax.com/investing/franklin-resources-inc-reduces-holdings-in-alkermes-plc-alks/2007117.html.
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).
Want to see what other hedge funds are holding ALKS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alkermes Plc (NASDAQ:ALKS).
Receive News & Ratings for Alkermes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alkermes and related companies with MarketBeat.com's FREE daily email newsletter.