Affinity Asset Advisors LLC Has $47.74 Million Stock Position in Alkermes plc $ALKS

Affinity Asset Advisors LLC grew its stake in Alkermes plc (NASDAQ:ALKS) by 35.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,350,000 shares of the company’s stock after purchasing an additional 350,000 shares during the period. Alkermes comprises about 2.5% of Affinity Asset Advisors LLC’s investment portfolio, making the stock its 10th biggest position. Affinity Asset Advisors LLC’s holdings in Alkermes were worth $47,736,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in ALKS. Tudor Investment Corp ET AL acquired a new position in Alkermes in the third quarter worth $1,691,000. Profund Advisors LLC increased its stake in shares of Alkermes by 80.9% in the fourth quarter. Profund Advisors LLC now owns 80,624 shares of the company’s stock valued at $2,256,000 after buying an additional 36,067 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Alkermes by 21.0% in the fourth quarter. Fisher Asset Management LLC now owns 390,493 shares of the company’s stock valued at $10,926,000 after buying an additional 67,745 shares during the last quarter. Abacus FCF Advisors LLC acquired a new position in Alkermes during the 4th quarter worth about $6,141,000. Finally, UBS Group AG grew its holdings in Alkermes by 237.4% during the 4th quarter. UBS Group AG now owns 2,544,895 shares of the company’s stock worth $71,206,000 after acquiring an additional 1,790,729 shares during the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.

Alkermes Stock Performance

Shares of ALKS stock opened at $52.89 on Friday. The company’s fifty day simple moving average is $46.92 and its 200-day simple moving average is $37.44. Alkermes plc has a 12 month low of $25.17 and a 12 month high of $55.67. 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 market cap of $8.82 billion, a PE ratio of 58.77 and a beta of 0.34.

Insider Activity at Alkermes

In other news, Director Christopher I. Wright sold 2,000 shares of the business’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 completion of the sale, the director owned 25,680 shares in the company, valued at $1,158,168. The trade was a 7.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 Alkermes stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $54.03, for a total value of $109,897.02. Following the sale, the executive vice president directly owned 227,490 shares of the company’s stock, valued at approximately $12,291,284.70. The trade was a 0.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 35,102 shares of company stock worth $1,494,410. Company insiders own 4.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Bank of America reiterated an “underperform” rating on shares of Alkermes in a research report on Monday, June 29th. HC Wainwright reaffirmed a “neutral” rating on shares of Alkermes in a report on Thursday, June 18th. Weiss Ratings lowered Alkermes from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. TD Cowen boosted their target price on Alkermes from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. Finally, Needham & Company LLC upped their price target on Alkermes from $61.00 to $62.00 and gave the company a “buy” rating in a research note on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $52.50.

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.