New York State Teachers Retirement System Has $1.92 Million Holdings in Alkermes plc $ALKS

New York State Teachers Retirement System trimmed its holdings in Alkermes plc (NASDAQ:ALKS) by 29.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,368 shares of the company’s stock after selling 22,929 shares during the quarter. New York State Teachers Retirement System’s holdings in Alkermes were worth $1,922,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Cullen Frost Bankers Inc. acquired a new position in Alkermes during the 4th quarter valued at $28,000. Johnson Financial Group Inc. bought a new stake in Alkermes in the 3rd quarter valued at $31,000. UMB Bank n.a. grew its position in Alkermes by 57.6% in 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 during the last quarter. Salomon & Ludwin LLC grew its position in Alkermes by 115.6% in 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 last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Alkermes by 1,041.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,324 shares of the company’s stock worth $37,000 after purchasing an additional 1,208 shares during the period. Institutional investors and hedge funds own 95.21% of the company’s stock.

Insider Buying and Selling at Alkermes

In other 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 completion of the sale, the director owned 25,680 shares in the company, valued at $1,158,168. This represents a 7.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 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 completion of the sale, the executive vice president owned 229,524 shares of the company’s stock, valued at approximately $9,881,008.20. This represents 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. In the last three months, insiders have sold 35,102 shares of company stock worth $1,494,410. Corporate insiders own 4.59% of the company’s stock.

Alkermes Trading Down 3.4%

Shares of Alkermes stock opened at $51.94 on Friday. Alkermes plc has a 52-week low of $25.17 and a 52-week high of $55.67. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.27 and a quick ratio of 1.70. The company’s fifty day moving average price is $43.75 and its two-hundred day moving average price is $35.76. The firm has a market capitalization of $8.66 billion, a PE ratio of 57.71 and a beta of 0.34.

Alkermes (NASDAQ:ALKS) last announced its earnings results on Saturday, February 14th. The company reported $0.29 earnings per share (EPS) for the quarter. Alkermes had a return on equity of 9.26% and a net margin of 9.78%.The company had revenue of $384.55 million for the quarter. On average, analysts expect that Alkermes plc will post -0.42 EPS for the current year.

Analysts Set New Price Targets

ALKS has been the subject of a number of research analyst reports. Royal Bank Of Canada upped their price objective on shares of Alkermes from $45.00 to $56.00 and gave the company an “outperform” rating in a research report on Tuesday, June 9th. Wells Fargo & Company lifted their target price on Alkermes from $44.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. HC Wainwright restated a “neutral” rating on shares of Alkermes in a research note on Thursday, June 18th. Truist Financial raised Alkermes to a “strong-buy” rating in a report on Wednesday, March 25th. Finally, Robert W. Baird raised their price objective on Alkermes from $45.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $49.62.

Alkermes Company 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.