Alkermes plc $ALKS Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lessened its stake in Alkermes plc (NASDAQ:ALKS) by 26.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 53,527 shares of the company’s stock after selling 19,669 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Alkermes were worth $1,498,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. UBS Group AG boosted its holdings in Alkermes by 237.4% during the 4th quarter. UBS Group AG now owns 2,544,895 shares of the company’s stock valued at $71,206,000 after acquiring an additional 1,790,729 shares during the period. Baker BROS. Advisors LP lifted its holdings in Alkermes by 26.2% during the 3rd quarter. Baker BROS. Advisors LP now owns 8,091,351 shares of the company’s stock worth $242,741,000 after buying an additional 1,680,748 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Alkermes by 1,070.6% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,208,944 shares of the company’s stock worth $36,268,000 after acquiring an additional 1,105,666 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Alkermes by 787.2% in the second quarter. BNP Paribas Financial Markets now owns 1,135,478 shares of the company’s stock valued at $32,486,000 after acquiring an additional 1,007,488 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Alkermes by 20.2% during the 3rd quarter. American Century Companies Inc. now owns 4,397,471 shares of the company’s stock worth $131,924,000 after purchasing an additional 740,248 shares in the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Alkermes Stock Performance

NASDAQ:ALKS opened at $34.99 on Monday. The stock has a 50-day simple moving average of $31.63 and a 200-day simple moving average of $31.04. The stock has a market cap of $5.83 billion, a P/E ratio of 38.88 and a beta of 0.31. Alkermes plc has a 1 year low of $25.17 and a 1 year high of $36.60. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.70 and a current ratio of 2.27.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings data on Saturday, February 14th. The company reported $0.29 EPS for the quarter. Alkermes had a return on equity of 9.26% and a net margin of 9.78%.The business had revenue of $384.55 million for the quarter. As a group, analysts anticipate that Alkermes plc will post -0.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Alkermes

In other Alkermes news, EVP Craig C. Hopkinson sold 9,000 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $33.40, for a total value of $300,600.00. Following the transaction, the executive vice president directly owned 81,389 shares in the company, valued at $2,718,392.60. This represents a 9.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Christian Todd Nichols sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $30.00, for a total transaction of $180,000.00. Following the sale, the senior vice president directly owned 109,769 shares in the company, valued at approximately $3,293,070. The trade was a 5.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 39,102 shares of company stock worth $1,265,090 over the last three months. Insiders own 4.59% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Piper Sandler decreased their price objective on Alkermes from $45.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, March 24th. UBS Group raised their target price on shares of Alkermes from $42.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday. Wolfe Research started coverage on shares of Alkermes in a research note on Monday, February 23rd. They issued an “outperform” rating and a $45.00 price target for the company. Bank of America boosted their price target on shares of Alkermes from $34.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. Finally, Royal Bank Of Canada dropped their price objective on shares of Alkermes from $47.00 to $45.00 and set an “outperform” rating on the stock in a research report on Thursday, February 26th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Alkermes has a consensus rating of “Moderate Buy” and an average target price of $45.21.

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.