Bank of New York Mellon Corp Has $61.45 Million Stock Holdings in Alkermes plc (NASDAQ:ALKS)

Bank of New York Mellon Corp trimmed its holdings in shares of Alkermes plc (NASDAQ:ALKS) by 2.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,136,590 shares of the company’s stock after selling 56,380 shares during the period. Bank of New York Mellon Corp owned about 1.32% of Alkermes worth $61,448,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. CIBC Asset Management Inc lifted its stake in Alkermes by 4.4% in the 4th quarter. CIBC Asset Management Inc now owns 9,155 shares of the company’s stock valued at $263,000 after purchasing an additional 384 shares during the last quarter. Nicollet Investment Management Inc. lifted its stake in Alkermes by 1.7% in the 3rd quarter. Nicollet Investment Management Inc. now owns 43,845 shares of the company’s stock valued at $1,227,000 after purchasing an additional 714 shares during the last quarter. KBC Group NV lifted its stake in Alkermes by 18.8% in the 3rd quarter. KBC Group NV now owns 4,890 shares of the company’s stock valued at $137,000 after purchasing an additional 774 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in Alkermes in the 4th quarter valued at about $25,000. Finally, Exchange Traded Concepts LLC lifted its stake in Alkermes by 3.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 30,950 shares of the company’s stock valued at $890,000 after purchasing an additional 897 shares during the last quarter. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Alkermes

In related news, EVP Craig C. Hopkinson sold 144,419 shares of Alkermes stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $35.53, for a total value of $5,131,207.07. Following the transaction, the executive vice president now directly owns 57,875 shares of the company’s stock, valued at $2,056,298.75. This trade represents a 71.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available 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 completion of the sale, the director now owns 23,013 shares in the company, valued at $732,964.05. This represents a 10.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 318,400 shares of company stock valued at $10,702,911 over the last three months. 4.89% of the stock is owned by insiders.

Alkermes Trading Up 3.8 %

Shares of ALKS opened at $35.40 on Wednesday. Alkermes plc has a 12 month low of $22.90 and a 12 month high of $36.45. The firm’s 50 day moving average is $31.55 and its 200-day moving average is $29.51. The stock has a market capitalization of $5.76 billion, a PE ratio of 16.31, a P/E/G ratio of 2.20 and a beta of 0.49.

Alkermes (NASDAQ:ALKS) last announced its earnings results on Wednesday, February 12th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.81 by $0.11. Alkermes had a net margin of 23.57% and a return on equity of 30.80%. Equities research analysts predict that Alkermes plc will post 1.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. StockNews.com upgraded shares of Alkermes from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 13th. UBS Group upgraded shares of Alkermes from a “sell” rating to a “neutral” rating and raised their target price for the company from $21.00 to $38.00 in a research note on Tuesday. Deutsche Bank Aktiengesellschaft began coverage on shares of Alkermes in a report on Tuesday, February 11th. They issued a “buy” rating and a $40.00 price target on the stock. HC Wainwright reissued a “neutral” rating and issued a $46.00 price target on shares of Alkermes in a report on Thursday, February 13th. Finally, Stifel Nicolaus raised shares of Alkermes from a “hold” rating to a “buy” rating and increased their price target for the company from $25.00 to $36.00 in a report on Tuesday, November 5th. Three 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $38.33.

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.