Geode Capital Management LLC Grows Holdings in Alkermes plc $ALKS

Geode Capital Management LLC increased its holdings in Alkermes plc (NASDAQ:ALKS) by 0.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,080,776 shares of the company’s stock after purchasing an additional 19,382 shares during the period. Geode Capital Management LLC owned approximately 2.47% of Alkermes worth $114,198,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Assetmark Inc. boosted its stake in shares of Alkermes by 933.8% in the 3rd quarter. Assetmark Inc. now owns 827 shares of the company’s stock valued at $25,000 after purchasing an additional 747 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new stake in shares of Alkermes in the 4th quarter valued at $28,000. Johnson Financial Group Inc. purchased a new stake in shares of Alkermes in the 3rd quarter valued at $31,000. Hantz Financial Services Inc. boosted its stake in shares of Alkermes by 395.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,239 shares of the company’s stock valued at $37,000 after purchasing an additional 989 shares in the last quarter. Finally, Salomon & Ludwin LLC boosted its stake in shares of Alkermes by 115.6% in the 4th quarter. Salomon & Ludwin LLC now owns 1,244 shares of the company’s stock valued at $35,000 after purchasing an additional 667 shares in the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Alkermes Trading Down 1.3%

Shares of ALKS opened at $42.80 on Friday. The stock has a market capitalization of $7.13 billion, a P/E ratio of 47.56 and a beta of 0.38. The company has a quick ratio of 1.70, a current ratio of 2.27 and a debt-to-equity ratio of 0.85. The firm has a fifty day simple moving average of $35.90 and a two-hundred day simple moving average of $32.19. Alkermes plc has a twelve month low of $25.17 and a twelve month high of $44.57.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings results on Saturday, February 14th. The company reported $0.29 earnings per share for the quarter. The business 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 anticipate that Alkermes plc will post -0.43 EPS for the current year.

Insider Buying and Selling at Alkermes

In other Alkermes news, EVP Craig C. Hopkinson sold 9,000 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $41.67, for a total transaction of $375,030.00. Following the completion of the sale, the executive vice president owned 77,389 shares of the company’s stock, valued at $3,224,799.63. This represents a 10.42% decrease in their position. The sale was disclosed in a filing with the SEC, 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 the stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $43.05, for a total transaction of $87,563.70. Following the sale, the executive vice president directly 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 have sold a total of 33,102 shares of company stock valued at $1,220,628 in the last three months. 4.59% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ALKS shares. Bank of America upped their price objective on shares of Alkermes from $34.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. HC Wainwright reaffirmed a “neutral” rating and issued a $43.00 price objective on shares of Alkermes in a research note on Thursday, February 26th. Robert W. Baird upped their price objective on shares of Alkermes from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Wall Street Zen cut shares of Alkermes from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Finally, UBS Group upped their price objective on shares of Alkermes from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $45.40.

About Alkermes

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.