Alkermes plc $ALKS Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets reduced its stake in shares of Alkermes plc (NASDAQ:ALKS) by 43.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 430,330 shares of the company’s stock after selling 330,873 shares during the period. BNP Paribas Financial Markets’ holdings in Alkermes were worth $12,041,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Sanctuary Advisors LLC raised its position in shares of Alkermes by 2.7% during the 4th quarter. Sanctuary Advisors LLC now owns 12,141 shares of the company’s stock valued at $340,000 after buying an additional 315 shares during the period. PNC Financial Services Group Inc. raised its position in Alkermes by 3.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,326 shares of the company’s stock valued at $289,000 after purchasing an additional 351 shares during the period. Orion Porfolio Solutions LLC raised its position in Alkermes by 4.5% in the third quarter. Orion Porfolio Solutions LLC now owns 8,762 shares of the company’s stock valued at $263,000 after purchasing an additional 376 shares during the period. Horizon Investments LLC raised its position in Alkermes by 0.9% in the third quarter. Horizon Investments LLC now owns 43,002 shares of the company’s stock valued at $1,290,000 after purchasing an additional 387 shares during the period. Finally, AMG National Trust Bank raised its position in Alkermes by 0.6% in the third quarter. AMG National Trust Bank now owns 60,175 shares of the company’s stock valued at $1,805,000 after purchasing an additional 388 shares during the period. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Alkermes

In other Alkermes news, EVP David Joseph Gaffin sold 2,034 shares of the company’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $43.05, for a total value of $87,563.70. Following the completion of the transaction, the executive vice president owned 229,524 shares in the company, valued at $9,881,008.20. This represents a 0.88% decrease in their ownership of the stock. The transaction 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 Craig C. Hopkinson sold 9,000 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $33.40, for a total transaction of $300,600.00. Following the completion of the sale, the executive vice president directly owned 81,389 shares of the company’s stock, valued at $2,718,392.60. The trade was a 9.96% decrease in their ownership of the stock. 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. Insiders sold 33,102 shares of company stock valued at $1,220,628 in the last 90 days. 4.59% of the stock is currently owned by insiders.

Alkermes Stock Performance

Shares of ALKS stock opened at $42.80 on Monday. The company has a current ratio of 2.27, a quick ratio of 1.70 and a debt-to-equity ratio of 0.85. The firm has a fifty day moving average price of $35.90 and a 200 day moving average price of $32.21. The company has a market cap of $7.13 billion, a P/E ratio of 47.56 and a beta of 0.38. Alkermes plc has a 12 month low of $25.17 and a 12 month high of $44.57.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings data on Saturday, February 14th. The company reported $0.29 earnings per share (EPS) for the quarter. Alkermes had a net margin of 9.78% and a return on equity of 9.26%. The company had revenue of $384.55 million during the quarter. Sell-side analysts predict that Alkermes plc will post -0.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ALKS has been the topic of a number of research analyst reports. Weiss Ratings lowered Alkermes from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Royal Bank Of Canada cut their target price on Alkermes from $47.00 to $45.00 and set an “outperform” rating on the stock in a research report on Thursday, February 26th. Piper Sandler cut their target price on Alkermes from $45.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 24th. Zacks Research raised Alkermes from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Finally, Wolfe Research initiated coverage on Alkermes in a research report on Monday, February 23rd. They issued an “outperform” rating and a $45.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $45.40.

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.