Hennion & Walsh Asset Management Inc. bought a new stake in Alkermes plc (NASDAQ:ALKS – Free Report) in the second quarter, Holdings Channel.com reports. The institutional investor bought 47,317 shares of the company’s stock, valued at approximately $2,479,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in ALKS. Norges Bank acquired a new stake in Alkermes in the fourth quarter valued at approximately $54,442,000. Baker BROS. Advisors LP lifted its holdings in shares of Alkermes by 23.7% in the 4th quarter. Baker BROS. Advisors LP now owns 10,012,267 shares of the company’s stock worth $280,143,000 after purchasing an additional 1,920,916 shares in the last quarter. UBS Group AG lifted its holdings in shares of Alkermes by 237.4% in the 4th quarter. UBS Group AG now owns 2,544,895 shares of the company’s stock worth $71,206,000 after purchasing an additional 1,790,729 shares in the last quarter. First Trust Advisors LP increased its position in shares of Alkermes by 104.2% during the first quarter. First Trust Advisors LP now owns 2,968,785 shares of the company’s stock worth $104,976,000 after acquiring an additional 1,514,783 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Alkermes by 32.0% in the 4th quarter. JPMorgan Chase & Co. now owns 5,184,547 shares of the company’s stock valued at $145,064,000 after acquiring an additional 1,256,377 shares in the last quarter. Institutional investors own 95.21% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on ALKS. TD Cowen increased their price objective on Alkermes from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. HC Wainwright reiterated a “neutral” rating on shares of Alkermes in a research note on Thursday, July 30th. Bank of America restated an “underperform” rating on shares of Alkermes in a research note on Monday, June 29th. Royal Bank Of Canada upped their target price on Alkermes from $45.00 to $56.00 and gave the company an “outperform” rating in a report on Tuesday, June 9th. Finally, Zacks Research raised Alkermes from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $54.56.
Alkermes Price Performance
ALKS opened at $49.21 on Wednesday. Alkermes plc has a fifty-two week low of $25.17 and a fifty-two week high of $55.67. The firm has a 50-day moving average of $49.58 and a 200 day moving average of $39.11. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.85 and a current ratio of 2.30. The firm has a market cap of $8.26 billion, a P/E ratio of 129.50 and a beta of 0.34.
Insider Activity at Alkermes
In other news, EVP Craig C. Hopkinson sold 9,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $51.51, for a total transaction of $463,590.00. Following the completion of the transaction, the executive vice president directly owned 73,389 shares of the company’s stock, valued at $3,780,267.39. This represents a 10.92% decrease in their position. The transaction was disclosed in a legal filing 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, Director Christopher I. Wright sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $45.10, for a total transaction of $90,200.00. Following the sale, the director owned 25,680 shares of the company’s stock, valued at approximately $1,158,168. The trade was a 7.23% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 79,574 shares of company stock valued at $3,901,478 in the last three months. 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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