Avoro Capital Advisors LLC Has $39.17 Million Stock Position in Alkermes plc $ALKS

Avoro Capital Advisors LLC decreased its holdings in shares of Alkermes plc (NASDAQ:ALKS) by 37.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,400,000 shares of the company’s stock after selling 840,000 shares during the quarter. Alkermes makes up about 0.4% of Avoro Capital Advisors LLC’s investment portfolio, making the stock its 27th biggest holding. Avoro Capital Advisors LLC’s holdings in Alkermes were worth $39,172,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ALKS. Sanctuary Advisors LLC lifted its position in Alkermes by 2.7% during the 4th quarter. Sanctuary Advisors LLC now owns 12,141 shares of the company’s stock worth $340,000 after buying an additional 315 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Alkermes by 3.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,326 shares of the company’s stock worth $289,000 after purchasing an additional 351 shares during the last quarter. Orion Porfolio Solutions LLC increased its position in shares of Alkermes by 4.5% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 8,762 shares of the company’s stock worth $263,000 after purchasing an additional 376 shares during the last quarter. Horizon Investments LLC raised its stake in shares of Alkermes by 0.9% during the 3rd quarter. Horizon Investments LLC now owns 43,002 shares of the company’s stock worth $1,290,000 after purchasing an additional 387 shares in the last quarter. Finally, AMG National Trust Bank raised its stake in shares of Alkermes by 0.6% during the 3rd quarter. AMG National Trust Bank now owns 60,175 shares of the company’s stock worth $1,805,000 after purchasing an additional 388 shares in the last quarter. Institutional investors own 95.21% of the company’s stock.

Insider Buying and Selling at Alkermes

In other news, EVP David Joseph Gaffin sold 2,034 shares of Alkermes stock in a transaction on Monday, May 4th. The stock was sold at an average price of $33.20, for a total value of $67,528.80. Following the transaction, the executive vice president owned 231,558 shares in the company, valued at approximately $7,687,725.60. This trade represents a 0.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Craig C. Hopkinson sold 9,000 shares of Alkermes stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $35.51, for a total value of $319,590.00. Following the completion of the transaction, the executive vice president owned 85,389 shares in the company, valued at approximately $3,032,163.39. The trade was a 9.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 35,102 shares of company stock worth $1,310,828 over the last three months. Corporate insiders own 4.59% of the company’s stock.

Alkermes Stock Performance

ALKS opened at $44.99 on Friday. Alkermes plc has a twelve month low of $25.17 and a twelve month high of $45.76. The company has a 50-day simple moving average of $38.13 and a 200 day simple moving average of $33.25. 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 stock has a market capitalization of $7.50 billion, a price-to-earnings ratio of 49.99 and a beta of 0.38.

Alkermes (NASDAQ:ALKS) last released its earnings results on Saturday, February 14th. The company reported $0.29 EPS for the quarter. The firm had revenue of $384.55 million for the quarter. Alkermes had a net margin of 9.78% and a return on equity of 9.26%. Analysts predict that Alkermes plc will post -0.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ALKS has been the subject of a number of research analyst reports. Royal Bank Of Canada lifted their price target on Alkermes from $45.00 to $56.00 and gave the stock an “outperform” rating in a report on Tuesday, June 9th. Robert W. Baird raised their price objective on Alkermes from $45.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Truist Financial upgraded Alkermes to a “strong-buy” rating in a research note on Wednesday, March 25th. Wells Fargo & Company boosted their target price on Alkermes from $43.00 to $44.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, Piper Sandler cut their price target on Alkermes from $45.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, March 24th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $46.40.

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.