Profund Advisors LLC Trims Holdings in Alkermes Plc (NASDAQ:ALKS)

Profund Advisors LLC cut its stake in Alkermes Plc (NASDAQ:ALKS) by 11.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 38,650 shares of the company’s stock after selling 4,827 shares during the quarter. Profund Advisors LLC’s holdings in Alkermes were worth $871,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ALKS. Machina Capital S.A.S. purchased a new position in Alkermes during the second quarter worth about $37,000. Advisor Group Inc. grew its position in Alkermes by 74.1% during the second quarter. Advisor Group Inc. now owns 1,993 shares of the company’s stock worth $44,000 after buying an additional 848 shares in the last quarter. Globeflex Capital L P purchased a new position in Alkermes during the first quarter worth about $148,000. Acadian Asset Management LLC purchased a new position in Alkermes during the second quarter worth about $163,000. Finally, Commerce Bank purchased a new position in Alkermes during the first quarter worth about $201,000. Institutional investors own 95.90% of the company’s stock.

ALKS stock traded down $1.25 during mid-day trading on Tuesday, hitting $21.58. 40,512 shares of the stock were exchanged, compared to its average volume of 899,571. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.98 and a quick ratio of 2.69. The business has a fifty day moving average price of $21.41 and a 200 day moving average price of $26.32. Alkermes Plc has a 12 month low of $19.36 and a 12 month high of $45.16. The stock has a market capitalization of $3.50 billion, a price-to-earnings ratio of -309.71 and a beta of 1.82.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings results on Thursday, July 25th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.26) by $0.20. Alkermes had a negative return on equity of 4.13% and a negative net margin of 17.10%. The firm had revenue of $279.90 million during the quarter, compared to analyst estimates of $251.40 million. During the same quarter in the previous year, the company posted $0.29 earnings per share. The company’s revenue was down 8.1% compared to the same quarter last year. As a group, equities analysts forecast that Alkermes Plc will post -0.39 EPS for the current fiscal year.

In other Alkermes news, CEO Richard F. Pops sold 100,000 shares of Alkermes stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $22.68, for a total transaction of $2,268,000.00. Following the completion of the sale, the chief executive officer now owns 816,433 shares of the company’s stock, valued at $18,516,700.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 4.71% of the company’s stock.

ALKS has been the subject of several recent analyst reports. Cowen set a $34.00 target price on Alkermes and gave the stock a “buy” rating in a research report on Friday. HC Wainwright initiated coverage on Alkermes in a research report on Friday, May 31st. They set a “neutral” rating and a $28.00 target price for the company. BidaskClub upgraded Alkermes from a “sell” rating to a “hold” rating in a research report on Wednesday, September 11th. Piper Jaffray Companies reduced their target price on Alkermes from $30.00 to $22.00 and set a “neutral” rating for the company in a research report on Thursday, July 25th. Finally, Citigroup set a $25.00 target price on Alkermes and gave the stock a “hold” rating in a research report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $28.45.

About Alkermes

Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in various therapeutic areas in the United States, Ireland, and internationally. The company's marketed products include ARISTADA (aripiprazole lauroxil), an extended-release intramuscular injectable suspension for the treatment of schizophrenia; VIVITROL (naltrexone for extended-release injectable suspension) for the treatment of alcohol and opioid dependence; RISPERDAL CONSTA for the treatment of schizophrenia and bipolar I disorder; INVEGA SUSTENNA for the treatment of schizophrenia and schizoaffective disorder; XEPLION, INVEGA TRINZA, and TREVICTA for treating schizophrenia; and AMPYRA (dalfampridine)/FAMPYRA (fampridine) to enhance walking in adults with multiple sclerosis (MS) who have walking disability.

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Institutional Ownership by Quarter for Alkermes (NASDAQ:ALKS)

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