SG Americas Securities LLC Grows Position in Alkermes plc $ALKS

SG Americas Securities LLC grew its stake in Alkermes plc (NASDAQ:ALKS) by 399.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 178,993 shares of the company’s stock after acquiring an additional 143,121 shares during the period. SG Americas Securities LLC owned about 0.11% of Alkermes worth $6,329,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the stock. Cullen Frost Bankers Inc. purchased a new position in Alkermes in the 4th quarter valued at approximately $28,000. Johnson Financial Group Inc. purchased a new position in Alkermes in the third quarter valued at $31,000. UMB Bank n.a. grew its stake in Alkermes by 57.6% during the 4th quarter. UMB Bank n.a. now owns 1,220 shares of the company’s stock worth $34,000 after purchasing an additional 446 shares in the last quarter. Salomon & Ludwin LLC increased its holdings in Alkermes by 115.6% during the 4th quarter. Salomon & Ludwin LLC now owns 1,244 shares of the company’s stock worth $35,000 after purchasing an additional 667 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of 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 buying an additional 1,208 shares during the period. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ALKS shares. Bank of America increased their price objective on Alkermes from $34.00 to $36.00 and gave the company a “neutral” rating in a report on Thursday, April 9th. Zacks Research raised Alkermes from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Wells Fargo & Company increased their price target on shares of Alkermes from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Truist Financial upgraded shares of Alkermes to a “strong-buy” rating in a research report on Wednesday, March 25th. Finally, TD Cowen increased their target price on shares of Alkermes from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned 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 target price of $47.06.

Insider Buying and Selling at Alkermes

In related news, Director Christopher I. Wright sold 2,000 shares of the stock in a transaction dated 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 directly owned 25,680 shares of the company’s stock, valued at approximately $1,158,168. This represents a 7.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP David Joseph Gaffin sold 2,034 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $43.05, for a total transaction of $87,563.70. Following the transaction, the executive vice president owned 229,524 shares of the company’s stock, valued at $9,881,008.20. This trade represents a 0.88% decrease in their ownership of the stock. 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. Over the last 90 days, insiders have sold 35,102 shares of company stock valued at $1,310,828. Insiders own 4.59% of the company’s stock.

Alkermes Stock Performance

NASDAQ:ALKS opened at $55.08 on Monday. The stock’s 50 day simple moving average is $39.79 and its 200-day simple moving average is $34.03. Alkermes plc has a 12-month low of $25.17 and a 12-month high of $55.28. The company has a current ratio of 2.27, a quick ratio of 1.70 and a debt-to-equity ratio of 0.85. The firm has a market cap of $9.18 billion, a P/E ratio of 61.20 and a beta of 0.38.

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

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.