Vestcor Inc lowered its position in Alkermes plc (NASDAQ:ALKS – Free Report) by 49.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,766 shares of the company’s stock after selling 21,374 shares during the period. Vestcor Inc’s holdings in Alkermes were worth $609,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. American Century Companies Inc. raised its holdings in shares of Alkermes by 20.2% in the third quarter. American Century Companies Inc. now owns 4,397,471 shares of the company’s stock valued at $131,924,000 after purchasing an additional 740,248 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Alkermes by 43.1% in the third quarter. Victory Capital Management Inc. now owns 344,202 shares of the company’s stock valued at $10,326,000 after purchasing an additional 103,749 shares during the last quarter. Public Sector Pension Investment Board raised its holdings in shares of Alkermes by 11.6% in the third quarter. Public Sector Pension Investment Board now owns 710,700 shares of the company’s stock valued at $21,321,000 after purchasing an additional 73,787 shares during the last quarter. Tudor Investment Corp ET AL purchased a new stake in Alkermes during the third quarter worth about $1,691,000. Finally, Artisan Partners Limited Partnership increased its holdings in Alkermes by 36.8% during the third quarter. Artisan Partners Limited Partnership now owns 2,109,772 shares of the company’s stock worth $63,293,000 after buying an additional 567,965 shares during the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on ALKS shares. Royal Bank Of Canada decreased their price objective on shares of Alkermes from $47.00 to $45.00 and set an “outperform” rating for the company in a report on Thursday, February 26th. Bank of America raised their price objective on shares of Alkermes from $34.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. Piper Sandler decreased their price objective on shares of Alkermes from $45.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, March 24th. UBS Group raised their price objective on shares of Alkermes from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Finally, Robert W. Baird raised their price objective on shares of Alkermes from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $45.40.
Alkermes Stock Performance
NASDAQ ALKS opened at $42.45 on Tuesday. The company has a market capitalization of $7.08 billion, a PE ratio of 47.17 and a beta of 0.38. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.70 and a current ratio of 2.27. The company has a 50-day simple moving average of $36.15 and a 200 day simple moving average of $32.30. Alkermes plc has a 52-week low of $25.17 and a 52-week high of $44.57.
Alkermes (NASDAQ:ALKS – Get Free Report) last posted its earnings results on Saturday, February 14th. The company reported $0.29 earnings per share for the quarter. The firm had revenue of $384.55 million during the quarter. Alkermes had a net margin of 9.78% and a return on equity of 9.26%. On average, research analysts predict that Alkermes plc will post -0.43 EPS for the current year.
Insider Activity
In other news, EVP Craig C. Hopkinson sold 9,000 shares of Alkermes stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $33.40, for a total value of $300,600.00. Following the completion of the transaction, the executive vice president owned 81,389 shares in the company, valued at $2,718,392.60. This trade represents a 9.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP David Joseph Gaffin sold 2,034 shares of Alkermes stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $43.05, for a total transaction of $87,563.70. Following the completion of the transaction, the executive vice president owned 229,524 shares of the company’s stock, valued at $9,881,008.20. The trade was a 0.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 33,102 shares of company stock valued at $1,220,628 in the last quarter. Corporate insiders own 4.59% of the company’s stock.
Alkermes Profile
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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