Allspring Global Investments Holdings LLC Has $3.27 Million Stock Position in Alkermes plc (NASDAQ:ALKS)

Allspring Global Investments Holdings LLC lessened its stake in shares of Alkermes plc (NASDAQ:ALKS) by 68.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 120,701 shares of the company’s stock after selling 256,788 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Alkermes were worth $3,267,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. FMR LLC increased its stake in Alkermes by 3.4% during the 3rd quarter. FMR LLC now owns 1,311,009 shares of the company’s stock valued at $36,721,000 after purchasing an additional 42,748 shares in the last quarter. Northern Trust Corp lifted its position in shares of Alkermes by 0.8% during the 3rd quarter. Northern Trust Corp now owns 1,688,887 shares of the company’s stock worth $47,306,000 after buying an additional 13,545 shares in the last quarter. Natixis Advisors L.P. bought a new position in shares of Alkermes in the third quarter valued at approximately $1,736,000. O Shaughnessy Asset Management LLC boosted its position in Alkermes by 21.7% in the third quarter. O Shaughnessy Asset Management LLC now owns 12,088 shares of the company’s stock worth $339,000 after purchasing an additional 2,152 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its stake in Alkermes by 1,562.0% in the 3rd quarter. Qube Research & Technologies Ltd now owns 120,778 shares of the company’s stock valued at $3,383,000 after purchasing an additional 113,511 shares during the period. Institutional investors and hedge funds own 95.21% of the company’s stock.

Alkermes Price Performance

ALKS stock traded down $0.08 during midday trading on Tuesday, hitting $24.31. The company’s stock had a trading volume of 78,096 shares, compared to its average volume of 1,866,397. Alkermes plc has a 12 month low of $22.01 and a 12 month high of $32.88. The company has a 50 day moving average of $24.28 and a two-hundred day moving average of $26.55. The company has a quick ratio of 2.77, a current ratio of 3.20 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $4.11 billion, a price-to-earnings ratio of 9.64, a price-to-earnings-growth ratio of 0.49 and a beta of 0.47.

Alkermes (NASDAQ:ALKS) last issued its earnings results on Wednesday, May 1st. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.15). The firm had revenue of $350.37 million during the quarter, compared to the consensus estimate of $360.26 million. Alkermes had a return on equity of 20.31% and a net margin of 25.17%. The company’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.10) earnings per share. On average, analysts expect that Alkermes plc will post 2.27 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Robert W. Baird initiated coverage on shares of Alkermes in a report on Tuesday, March 19th. They issued an “outperform” rating and a $37.00 price target on the stock. HC Wainwright reiterated a “neutral” rating and issued a $35.00 price target on shares of Alkermes in a research report on Tuesday, June 4th. Cantor Fitzgerald raised their target price on Alkermes from $43.00 to $48.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. TD Cowen started coverage on shares of Alkermes in a report on Monday, June 17th. They issued a “buy” rating and a $34.00 price target for the company. Finally, StockNews.com lowered shares of Alkermes from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $36.50.

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.