Dimensional Fund Advisors LP Increases Stake in Alkermes plc $ALKS

Dimensional Fund Advisors LP boosted its position in Alkermes plc (NASDAQ:ALKS) by 2.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 4,522,378 shares of the company’s stock after acquiring an additional 109,595 shares during the period. Dimensional Fund Advisors LP’s holdings in Alkermes were worth $159,850,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Cullen Frost Bankers Inc. bought a new position in Alkermes during the fourth quarter worth about $28,000. Johnson Financial Group Inc. bought a new stake in shares of Alkermes in the third quarter valued at approximately $31,000. UMB Bank n.a. raised its position in shares of Alkermes by 57.6% in the fourth quarter. UMB Bank n.a. now owns 1,220 shares of the company’s stock valued at $34,000 after purchasing an additional 446 shares during the period. Salomon & Ludwin LLC raised its position in shares of Alkermes by 115.6% in the fourth quarter. Salomon & Ludwin LLC now owns 1,244 shares of the company’s stock valued at $35,000 after purchasing an additional 667 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its stake 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 valued at $37,000 after buying an additional 1,208 shares in the last quarter. 95.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. UBS Group raised their price objective on shares of Alkermes from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Needham & Company LLC boosted their target price on shares of Alkermes from $61.00 to $62.00 and gave the company a “buy” rating in a report on Monday, July 13th. Wells Fargo & Company increased their price objective on Alkermes from $44.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, June 29th. Mizuho increased their target price on shares of Alkermes from $53.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, July 2nd. Finally, Weiss Ratings cut Alkermes from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Alkermes currently has a consensus rating of “Moderate Buy” and an average price target of $52.50.

Insider Transactions at Alkermes

In other news, Director Christopher I. Wright sold 2,000 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was 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 of the company’s stock, valued at approximately $1,158,168. The trade was a 7.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $43.05, for a total value of $87,563.70. Following the sale, the executive vice president owned 229,524 shares of the company’s stock, valued at $9,881,008.20. This represents a 0.88% 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. Over 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.

Alkermes Stock Performance

NASDAQ ALKS opened at $52.89 on Monday. The company has a 50-day simple moving average of $46.92 and a two-hundred day simple moving average of $37.50. The company has a quick ratio of 1.70, a current ratio of 2.27 and a debt-to-equity ratio of 0.85. Alkermes plc has a 12-month low of $25.17 and a 12-month high of $55.67. The firm has a market cap of $8.82 billion, a price-to-earnings ratio of 58.77 and a beta of 0.34.

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.