Alkermes plc $ALKS Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. increased its position in shares of Alkermes plc (NASDAQ:ALKS) by 10.7% during the 1st quarter, Holdings Channel reports. The institutional investor owned 122,127 shares of the company’s stock after purchasing an additional 11,845 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Alkermes were worth $4,318,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. American Century Companies Inc. lifted its position in Alkermes by 20.2% in the third quarter. American Century Companies Inc. now owns 4,397,471 shares of the company’s stock valued at $131,924,000 after buying an additional 740,248 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Alkermes by 43.1% during the third quarter. Victory Capital Management Inc. now owns 344,202 shares of the company’s stock worth $10,326,000 after buying an additional 103,749 shares during the period. Tudor Investment Corp ET AL acquired a new stake in shares of Alkermes during the third quarter valued at about $1,691,000. Fisher Asset Management LLC increased its position in shares of Alkermes by 21.0% during the fourth quarter. Fisher Asset Management LLC now owns 390,493 shares of the company’s stock valued at $10,926,000 after acquiring an additional 67,745 shares during the last quarter. Finally, Profund Advisors LLC raised its stake in shares of Alkermes by 80.9% in the 4th quarter. Profund Advisors LLC now owns 80,624 shares of the company’s stock valued at $2,256,000 after acquiring an additional 36,067 shares during the period. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Alkermes Trading Down 4.6%

NASDAQ ALKS opened at $52.53 on Tuesday. Alkermes plc has a 52 week low of $25.17 and a 52 week high of $55.28. The firm has a 50 day moving average of $40.17 and a two-hundred day moving average of $34.20. 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 stock has a market capitalization of $8.76 billion, a PE ratio of 58.37 and a beta of 0.38.

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

Analyst Ratings Changes

A number of research firms have commented on ALKS. Wells Fargo & Company raised their price target on Alkermes from $44.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday. Piper Sandler lowered their price objective on shares of Alkermes from $45.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, March 24th. HC Wainwright reiterated a “neutral” rating on shares of Alkermes in a report on Thursday, June 18th. UBS Group raised their price target on shares of Alkermes from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Finally, Bank of America restated an “underperform” rating and issued a $38.00 price target on shares of Alkermes in a research note on Monday. 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, the stock has an average rating of “Moderate Buy” and an average target price of $48.50.

Insider Activity at Alkermes

In other news, EVP David Joseph Gaffin sold 2,034 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $33.20, for a total transaction of $67,528.80. Following the completion of the transaction, the executive vice president directly owned 231,558 shares of the company’s stock, valued at approximately $7,687,725.60. This represents a 0.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christopher I. Wright sold 2,000 shares of the company’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 transaction, the director directly owned 25,680 shares of the company’s stock, valued at approximately $1,158,168. This represents a 7.23% 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 have sold 35,102 shares of company stock valued at $1,310,828 over the last quarter. 4.59% of the stock is owned by insiders.

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.