Geode Capital Management, LLC Raises Its Holdings in Alkermes Plc (ALKS) Stock


Alkermes Plc (NASDAQ:ALKS).

Geode Capital Management, LLC bought 1,311,590 shares last quarter increasing its holdings in Alkermes Plc by 567,787.9%. Its investment stood at $66,662,000 an increase of 512,684.6% according to the filing.

Here are a few institutional investors who have updated their positions. Bellevue Group Ag downsized its position by shedding 81,500 shares a decrease of 59.2% in the quarter. Bellevue Group Ag currently owns 56,100 shares with a value of $2,852,000. The value of the position overall is down by 64.2%. As of quarter end Two Sigma Advisers, Lp had sold a total of 222,381 shares trimming its stake by 55.9%. The value of the company’s investment in Alkermes Plc decreased from $23,073,000 to $8,929,000 a change of 61.3% since the last quarter.

As of the end of the quarter Mitsubishi Ufj Trust & Banking Corp had disposed of 395 shares trimming its position 0.1%. The value in dollars went from $17,944,000 to $15,717,000 a change of $2,227,000 quarter to quarter.

Equity analyst Credit Suisse Group lowered the price target on October 27 changing the price objective from $70.00 to $66.00 and issued a “Outperform” recommendation. On October 27 analysts at J P Morgan Chase & Co released research on ALKS with a rating of “Buy” and establishing a price target of $78.00.

On October 26, 2017 Citigroup issued a report on ALKS and giving a rating of “Hold” and setting a price target of $62.00. Equity analyst Barclays PLC released a research note on ALKS stating a rating of “Hold” and a price target of $50.00.

Mizuho updated coverage of ALKS and giving a rating of “Buy” and price target of $81.00.

The company is now up by 0.02% since yesterday’s close of 47.75. Alkermes Plc currently has a P/E ratio of N/A and the market value is 7.34B. As of the latest earnings report the EPS was $-1.11 with 153.75M shares presently outstanding.

Investors are a little more bullish on the company recently if you take into consideration the motion in short interest. The stock recorded a fall in short interest from September 29, 2017 to October 13, 2017 of -3.14%. Short interest fell 222,778 over that timeframe. The short-interest ratio increased to 13.0 and the percentage of shorted shares was 0.04% on October 13.