Quantinno Capital Management LP Grows Holdings in Alkermes plc $ALKS

Quantinno Capital Management LP boosted its stake in Alkermes plc (NASDAQ:ALKSFree Report) by 131.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 44,932 shares of the company’s stock after purchasing an additional 25,492 shares during the period. Quantinno Capital Management LP’s holdings in Alkermes were worth $1,589,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ALKS. Cullen Frost Bankers Inc. acquired a new stake in shares of Alkermes in the fourth quarter valued at $28,000. Johnson Financial Group Inc. acquired a new position in Alkermes during the 3rd quarter worth about $31,000. UMB Bank n.a. boosted its holdings in Alkermes by 57.6% during the 4th quarter. UMB Bank n.a. now owns 1,220 shares of the company’s stock valued at $34,000 after acquiring an additional 446 shares during the period. Salomon & Ludwin LLC boosted its holdings in Alkermes by 115.6% during the 4th quarter. Salomon & Ludwin LLC now owns 1,244 shares of the company’s stock valued at $35,000 after acquiring an additional 667 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its position in Alkermes by 1,041.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,324 shares of the company’s stock valued at $37,000 after acquiring an additional 1,208 shares in the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Alkermes Price Performance

ALKS stock opened at $50.28 on Thursday. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.30 and a quick ratio of 1.85. The firm has a market capitalization of $8.44 billion, a P/E ratio of 132.32 and a beta of 0.34. The business’s 50-day moving average is $49.73 and its two-hundred day moving average is $39.23. Alkermes plc has a 1 year low of $25.17 and a 1 year high of $55.67.

Analyst Ratings Changes

Several analysts have recently issued reports on ALKS shares. Piper Sandler reissued an “overweight” rating and set a $65.00 price target (up from $43.00) on shares of Alkermes in a research report on Tuesday, July 28th. HC Wainwright restated a “neutral” rating on shares of Alkermes in a report on Thursday, July 30th. UBS Group upped their target price on shares of Alkermes from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Bank of America reiterated an “underperform” rating on shares of Alkermes in a report on Monday, June 29th. Finally, Zacks Research raised shares of Alkermes from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.56.

View Our Latest Stock Analysis on Alkermes

Insider Activity

In related news, Director Christopher I. Wright sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $45.10, for a total value of $90,200.00. Following the sale, the director owned 25,680 shares of the company’s stock, valued at $1,158,168. This trade represents a 7.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Nancy Lynn Md Snyderman sold 44,472 shares of Alkermes stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $50.35, for a total transaction of $2,239,165.20. Following the completion of the transaction, the director owned 15,395 shares of the company’s stock, valued at $775,138.25. This represents a 74.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 79,574 shares of company stock valued at $3,901,478 over the last three months. 4.59% of the stock is currently owned by corporate insiders.

About Alkermes

(Free Report)

Alkermes plc is a biopharmaceutical company focused on developing innovative medicines to address unmet needs in the central nervous system (CNS). The company applies its proprietary drug delivery technologies and therapeutic expertise to advance treatments for addiction, schizophrenia, bipolar I disorder and depression. Alkermes’ portfolio includes both commercial products and a pipeline of investigational therapies designed to improve patient outcomes and support long-term disease management.

Alkermes’ commercial franchise features several approved products.

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Institutional Ownership by Quarter for Alkermes (NASDAQ:ALKS)

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