Amalgamated Bank Sells 1,179 Shares of Alkermes plc (NASDAQ:ALKS)

Amalgamated Bank cut its holdings in shares of Alkermes plc (NASDAQ:ALKS) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 47,474 shares of the company’s stock after selling 1,179 shares during the quarter. Amalgamated Bank’s holdings in Alkermes were worth $1,365,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ALKS. CIBC Asset Management Inc raised its position in Alkermes by 4.4% in the 4th quarter. CIBC Asset Management Inc now owns 9,155 shares of the company’s stock worth $263,000 after purchasing an additional 384 shares during the period. Nicollet Investment Management Inc. grew its stake in shares of Alkermes by 1.7% during the third quarter. Nicollet Investment Management Inc. now owns 43,845 shares of the company’s stock valued at $1,227,000 after buying an additional 714 shares during the last quarter. KBC Group NV increased its holdings in shares of Alkermes by 18.8% in the third quarter. KBC Group NV now owns 4,890 shares of the company’s stock worth $137,000 after buying an additional 774 shares during the period. Venturi Wealth Management LLC bought a new stake in shares of Alkermes in the 4th quarter valued at about $25,000. Finally, Exchange Traded Concepts LLC boosted its holdings in Alkermes by 3.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 30,950 shares of the company’s stock valued at $890,000 after acquiring an additional 897 shares during the period. 95.21% of the stock is currently owned by institutional investors.

Alkermes Price Performance

Shares of ALKS opened at $34.11 on Tuesday. The company has a 50-day simple moving average of $31.43 and a two-hundred day simple moving average of $29.45. The firm has a market capitalization of $5.55 billion, a PE ratio of 15.72, a price-to-earnings-growth 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.

Alkermes (NASDAQ:ALKS) last released 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 return on equity of 30.80% and a net margin of 23.57%. Analysts expect that Alkermes plc will post 1.31 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on ALKS shares. Deutsche Bank Aktiengesellschaft started coverage on Alkermes in a research note on Tuesday, February 11th. They issued a “buy” rating and a $40.00 price target on the stock. HC Wainwright reaffirmed a “neutral” rating and issued a $46.00 target price on shares of Alkermes in a research note on Thursday, February 13th. Stifel Nicolaus upgraded shares of Alkermes from a “hold” rating to a “buy” rating and upped their price target for the company from $25.00 to $36.00 in a report on Tuesday, November 5th. StockNews.com raised shares of Alkermes from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 13th. Finally, The Goldman Sachs Group upped their price objective on shares of Alkermes from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Alkermes presently has a consensus rating of “Moderate Buy” and an average price target of $38.36.

Insider Buying and Selling at Alkermes

In other Alkermes news, EVP Craig C. Hopkinson sold 9,221 shares of the company’s 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 owns 59,730 shares in the company, valued at approximately $1,881,495. This represents a 13.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Cato T. Laurencin sold 2,691 shares of the firm’s 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 transaction, the director now directly owns 23,013 shares of the company’s stock, valued at $732,964.05. This represents a 10.47 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 318,400 shares of company stock valued at $10,702,911. 4.89% of the stock is currently owned by company insiders.

Alkermes 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.