Deutsche Bank AG Has $6.83 Million Stake in Alkermes plc (NASDAQ:ALKS)

Deutsche Bank AG trimmed its holdings in shares of Alkermes plc (NASDAQ:ALKS) by 7.9% in the first quarter, Holdings Channel.com reports. The fund owned 206,835 shares of the company’s stock after selling 17,835 shares during the quarter. Deutsche Bank AG’s holdings in Alkermes were worth $6,830,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. RTW Investments LP raised its stake in shares of Alkermes by 13.6% in the fourth quarter. RTW Investments LP now owns 7,557,835 shares of the company’s stock worth $217,363,000 after acquiring an additional 903,802 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Alkermes by 4.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,019,508 shares of the company’s stock valued at $86,842,000 after purchasing an additional 128,701 shares in the last quarter. Avoro Capital Advisors LLC acquired a new stake in shares of Alkermes during the fourth quarter worth $70,462,000. Northern Trust Corp lifted its holdings in shares of Alkermes by 9.6% in the fourth quarter. Northern Trust Corp now owns 1,912,132 shares of the company’s stock valued at $54,993,000 after purchasing an additional 167,452 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in Alkermes by 109.5% during the fourth quarter. Nuveen Asset Management LLC now owns 1,659,821 shares of the company’s stock worth $47,736,000 after purchasing an additional 867,492 shares during the last quarter. 95.21% of the stock is owned by institutional investors.

Analyst Ratings Changes

ALKS has been the subject of a number of recent analyst reports. Cantor Fitzgerald upgraded shares of Alkermes to a “strong-buy” rating in a research note on Tuesday, May 13th. UBS Group raised shares of Alkermes from a “neutral” rating to a “buy” rating and raised their price target for the stock from $33.00 to $42.00 in a research report on Tuesday, June 17th. HC Wainwright reissued a “neutral” rating and issued a $46.00 target price on shares of Alkermes in a report on Monday, July 21st. The Goldman Sachs Group began coverage on shares of Alkermes in a research note on Tuesday, July 15th. They issued a “buy” rating and a $43.00 price target on the stock. Finally, Robert W. Baird lifted their target price on shares of Alkermes from $38.00 to $41.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Alkermes has a consensus rating of “Moderate Buy” and a consensus target price of $41.08.

Insider Buying and Selling at Alkermes

In related news, SVP Christian Todd Nichols sold 3,334 shares of the business’s stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $31.09, for a total value of $103,654.06. Following the transaction, the senior vice president directly owned 86,208 shares of the company’s stock, valued at approximately $2,680,206.72. The trade was a 3.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.40% of the company’s stock.

Alkermes Stock Up 2.8%

NASDAQ:ALKS opened at $29.05 on Friday. The company has a fifty day moving average of $28.53 and a 200-day moving average of $30.55. The firm has a market capitalization of $4.80 billion, a P/E ratio of 13.97, a P/E/G ratio of 1.66 and a beta of 0.47. Alkermes plc has a twelve month low of $25.56 and a twelve month high of $36.45.

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

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.