Tudor Investment Corp ET AL Makes New Investment in Alkermes plc $ALKS

Tudor Investment Corp ET AL acquired a new position in Alkermes plc (NASDAQ:ALKS) during the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 56,383 shares of the company’s stock, valued at approximately $1,691,000.

Other large investors have also recently made changes to their positions in the company. Royal Bank of Canada increased its holdings in Alkermes by 117.2% in the 1st quarter. Royal Bank of Canada now owns 275,526 shares of the company’s stock worth $9,098,000 after acquiring an additional 148,696 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Alkermes during the first quarter valued at approximately $213,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Alkermes by 4.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 482,332 shares of the company’s stock valued at $15,927,000 after purchasing an additional 20,091 shares in the last quarter. Cetera Investment Advisers boosted its position in shares of Alkermes by 32.3% in the second quarter. Cetera Investment Advisers now owns 13,907 shares of the company’s stock worth $398,000 after purchasing an additional 3,394 shares during the period. Finally, Swiss National Bank boosted its position in shares of Alkermes by 0.5% in the second quarter. Swiss National Bank now owns 299,300 shares of the company’s stock worth $8,563,000 after purchasing an additional 1,500 shares during the period. 95.21% of the stock is owned by hedge funds and other institutional investors.

Alkermes Stock Performance

ALKS stock opened at $29.39 on Monday. The company’s fifty day moving average price is $31.31 and its 200-day moving average price is $30.17. Alkermes plc has a one year low of $25.17 and a one year high of $36.32. The company has a market capitalization of $4.90 billion, a PE ratio of 20.55, a price-to-earnings-growth ratio of 7.33 and a beta of 0.53.

Alkermes (NASDAQ:ALKS) last posted its earnings results on Thursday, February 26th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.14). The company had revenue of $384.55 million for the quarter, compared to analysts’ expectations of $380.44 million. Alkermes had a net margin of 16.37% and a return on equity of 14.91%. The business’s revenue was down 10.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.05 earnings per share. On average, research analysts predict that Alkermes plc will post 1.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on ALKS shares. Truist Financial upgraded shares of Alkermes to a “strong-buy” rating in a research report on Wednesday, March 25th. Bank of America increased their price target on Alkermes from $33.00 to $34.00 and gave the stock a “neutral” rating in a research note on Friday, February 20th. Wells Fargo & Company raised their price target on Alkermes from $37.00 to $43.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. Wolfe Research started coverage on Alkermes in a research report on Monday, February 23rd. They issued an “outperform” rating and a $45.00 price objective on the stock. Finally, Royal Bank Of Canada dropped their price objective on Alkermes from $47.00 to $45.00 and set an “outperform” rating for the company in a research note on Thursday, February 26th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.93.

Insider Transactions at Alkermes

In related news, EVP David Joseph Gaffin sold 2,034 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $29.29, for a total value of $59,575.86. Following the sale, the executive vice president directly owned 237,660 shares in the company, valued at approximately $6,961,061.40. The trade was a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Christian Todd Nichols sold 6,000 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $30.00, for a total value of $180,000.00. Following the transaction, the senior vice president directly owned 109,769 shares of the company’s stock, valued at approximately $3,293,070. The trade was a 5.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 157,434 shares of company stock worth $5,305,794. 4.40% of the stock is currently owned by company insiders.

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.