PSP Research LLC Purchases Shares of 19,280 Alkermes plc $ALKS

PSP Research LLC purchased a new stake in Alkermes plc (NASDAQ:ALKS) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 19,280 shares of the company’s stock, valued at approximately $539,000. Alkermes comprises approximately 0.5% of PSP Research LLC’s portfolio, making the stock its 24th biggest position.

A number of other institutional investors and hedge funds also recently bought and sold shares of ALKS. Assetmark Inc. lifted its holdings in Alkermes by 933.8% in the 3rd quarter. Assetmark Inc. now owns 827 shares of the company’s stock valued at $25,000 after acquiring an additional 747 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new stake in Alkermes in the 4th quarter valued at about $28,000. Johnson Financial Group Inc. acquired a new stake in Alkermes in the 3rd quarter valued at about $31,000. Salomon & Ludwin LLC lifted its holdings in Alkermes by 115.6% in the 4th quarter. Salomon & Ludwin LLC now owns 1,244 shares of the company’s stock valued at $35,000 after acquiring an additional 667 shares during the last quarter. Finally, Hantz Financial Services Inc. lifted its holdings in Alkermes by 395.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,239 shares of the company’s stock valued at $37,000 after acquiring an additional 989 shares during the last quarter. 95.21% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alkermes

In other 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 completion of the sale, the executive vice president directly owned 81,389 shares of the company’s stock, valued at $2,718,392.60. This represents a 9.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Christian Todd Nichols sold 6,000 shares of the 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 completion of the sale, the senior vice president directly owned 109,769 shares of the company’s stock, valued at $3,293,070. This trade represents a 5.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 39,102 shares of company stock valued at $1,265,090 over the last three months. 4.59% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ALKS has been the subject of a number of analyst reports. Weiss Ratings lowered shares of Alkermes from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Bank of America upped their price objective on shares of Alkermes from $34.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Robert W. Baird upped their price objective on shares of Alkermes from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. HC Wainwright reaffirmed a “neutral” rating and set a $43.00 price objective on shares of Alkermes in a research note on Thursday, February 26th. Finally, Zacks Research raised shares of Alkermes from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $45.40.

Alkermes Price Performance

ALKS stock opened at $37.00 on Wednesday. The firm has a 50-day moving average of $32.83 and a two-hundred day moving average of $31.41. 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 market capitalization of $6.17 billion, a PE ratio of 41.11 and a beta of 0.31. Alkermes plc has a one year low of $25.17 and a one year high of $39.56.

Alkermes (NASDAQ:ALKS) last posted its quarterly earnings results on Saturday, February 14th. The company reported $0.29 earnings per share (EPS) for the quarter. The business had revenue of $384.55 million during the quarter. Alkermes had a net margin of 9.78% and a return on equity of 9.26%. On average, analysts forecast that Alkermes plc will post -0.42 earnings per share for the current year.

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.