PNC Financial Services Group Inc. Has $408,000 Stake in Alkermes plc (NASDAQ:ALKS)

PNC Financial Services Group Inc. lifted its position in shares of Alkermes plc (NASDAQ:ALKS) by 3.8% during the first quarter, Holdings Channel.com reports. The firm owned 12,352 shares of the company’s stock after buying an additional 451 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Alkermes were worth $408,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. USA Financial Formulas bought a new position in Alkermes during the 1st quarter worth $49,000. Fifth Third Bancorp boosted its holdings in shares of Alkermes by 54.4% in the 1st quarter. Fifth Third Bancorp now owns 1,479 shares of the company’s stock valued at $49,000 after purchasing an additional 521 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in Alkermes during the 4th quarter worth $98,000. GAMMA Investing LLC grew its position in Alkermes by 31.9% during the 1st quarter. GAMMA Investing LLC now owns 5,396 shares of the company’s stock worth $178,000 after acquiring an additional 1,305 shares during the last quarter. Finally, Farringdon Capital Ltd. bought a new stake in Alkermes during the 4th quarter worth $204,000. Institutional investors own 95.21% of the company’s stock.

Alkermes Price Performance

Alkermes stock opened at $28.26 on Friday. Alkermes plc has a one year low of $25.56 and a one year high of $36.45. The business has a fifty day moving average price of $28.58 and a 200-day moving average price of $30.57. The firm has a market capitalization of $4.67 billion, a P/E ratio of 13.59, a PEG ratio of 1.64 and a beta of 0.47.

Alkermes (NASDAQ:ALKS) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.10. The company had revenue of $390.66 million during the quarter, compared to analyst estimates of $343.20 million. Alkermes had a return on equity of 24.86% and a net margin of 23.15%. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter last year, the company earned $1.16 earnings per share. Sell-side analysts expect that Alkermes plc will post 1.31 earnings per share for the current fiscal year.

Insider Transactions at Alkermes

In other Alkermes news, SVP Christian Todd Nichols sold 3,334 shares of Alkermes stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $31.09, for a total transaction of $103,654.06. Following the completion of the sale, the senior vice president owned 86,208 shares of the company’s stock, valued at $2,680,206.72. The trade was a 3.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 4.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on ALKS. UBS Group upgraded Alkermes from a “neutral” rating to a “buy” rating and upped their price target for the company from $33.00 to $42.00 in a research report on Tuesday, June 17th. HC Wainwright reaffirmed a “neutral” rating and set a $46.00 price target on shares of Alkermes in a research note on Monday, July 21st. Cantor Fitzgerald raised Alkermes to a “strong-buy” rating in a research note on Tuesday, May 13th. Needham & Company LLC reissued a “buy” rating and issued a $45.00 price objective on shares of Alkermes in a research note on Tuesday, July 29th. Finally, Robert W. Baird upped their target price on Alkermes from $38.00 to $41.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $41.08.

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.