Bank of New York Mellon Corp Has $36.65 Million Stock Holdings in Alkermes plc $ALKS

Bank of New York Mellon Corp trimmed its position in Alkermes plc (NASDAQ:ALKS) by 3.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,036,460 shares of the company’s stock after selling 37,627 shares during the period. Bank of New York Mellon Corp’s holdings in Alkermes were worth $36,649,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in Alkermes by 20.1% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 29,805 shares of the company’s stock worth $1,054,000 after acquiring an additional 4,991 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Alkermes by 1.1% during the first quarter. Principal Financial Group Inc. now owns 958,016 shares of the company’s stock valued at $33,875,000 after acquiring an additional 10,393 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its position in shares of Alkermes by 18.5% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 77,928 shares of the company’s stock worth $2,756,000 after purchasing an additional 12,165 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in shares of Alkermes by 4.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 9,272 shares of the company’s stock worth $328,000 after purchasing an additional 422 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in shares of Alkermes by 12.9% in the 1st quarter. Hsbc Holdings PLC now owns 48,337 shares of the company’s stock worth $1,731,000 after purchasing an additional 5,520 shares in the last quarter. 95.21% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alkermes

In related news, EVP Craig C. Hopkinson sold 9,000 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $51.51, for a total transaction of $463,590.00. Following the transaction, the executive vice president directly owned 73,389 shares in the company, valued at approximately $3,780,267.39. The trade was a 10.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP David Joseph Gaffin sold 2,034 shares of the business’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $54.03, for a total transaction of $109,897.02. Following the transaction, the executive vice president owned 227,490 shares in the company, valued at approximately $12,291,284.70. This trade represents a 0.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 35,102 shares of company stock worth $1,494,410 in the last quarter. 4.59% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ALKS has been the subject of a number of recent research reports. Stifel Nicolaus restated a “buy” rating and set a $63.00 price target (up from $45.00) on shares of Alkermes in a research note on Monday, July 20th. Wells Fargo & Company raised their price objective on shares of Alkermes from $44.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, June 29th. HC Wainwright reiterated a “neutral” rating on shares of Alkermes in a report on Thursday, June 18th. Bank of America reissued an “underperform” rating on shares of Alkermes in a research report on Monday, June 29th. Finally, Needham & Company LLC raised their price target on shares of Alkermes from $61.00 to $62.00 and gave the company a “buy” rating in a research report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $52.50.

Alkermes Trading Down 0.2%

Shares of Alkermes stock opened at $52.89 on Friday. The company has a market capitalization of $8.82 billion, a P/E ratio of 58.77 and a beta of 0.34. The stock has a fifty day simple moving average of $46.92 and a 200 day simple moving average of $37.44. Alkermes plc has a 12-month low of $25.17 and a 12-month high of $55.67. The company has a current ratio of 2.27, a quick ratio of 1.70 and a debt-to-equity ratio of 0.85.

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.