Handelsbanken Fonder AB Trims Stock Holdings in Alkermes plc $ALKS

Handelsbanken Fonder AB trimmed its position in Alkermes plc (NASDAQ:ALKS) by 83.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,000 shares of the company’s stock after selling 277,100 shares during the period. Handelsbanken Fonder AB’s holdings in Alkermes were worth $1,539,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ALKS. Assetmark Inc. grew its stake in Alkermes by 933.8% in the third quarter. Assetmark Inc. now owns 827 shares of the company’s stock worth $25,000 after purchasing an additional 747 shares during the period. Johnson Financial Group Inc. purchased a new stake in Alkermes in the third quarter worth $31,000. Salomon & Ludwin LLC grew its stake in Alkermes by 115.6% in the fourth quarter. Salomon & Ludwin LLC now owns 1,244 shares of the company’s stock worth $35,000 after purchasing an additional 667 shares during the period. Hantz Financial Services Inc. grew its stake in Alkermes by 395.6% in the third quarter. Hantz Financial Services Inc. now owns 1,239 shares of the company’s stock worth $37,000 after purchasing an additional 989 shares during the period. Finally, Osaic Holdings Inc. grew its stake in Alkermes by 56.4% in the second quarter. Osaic Holdings Inc. now owns 1,945 shares of the company’s stock worth $56,000 after purchasing an additional 701 shares during the period. 95.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ALKS shares. Robert W. Baird upped their price target on Alkermes from $45.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Wells Fargo & Company raised their price objective on Alkermes from $43.00 to $44.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Wolfe Research began coverage on Alkermes in a research report on Monday, February 23rd. They set an “outperform” rating and a $45.00 price objective for the company. Royal Bank Of Canada reduced their price objective on Alkermes from $47.00 to $45.00 and set an “outperform” rating for the company in a research report on Thursday, February 26th. Finally, Wall Street Zen lowered Alkermes from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $45.40.

Insider Activity at Alkermes

In other Alkermes news, SVP Christian Todd Nichols sold 6,000 shares of Alkermes stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $30.00, for a total value of $180,000.00. Following the completion of the sale, the senior vice president owned 109,769 shares of the company’s stock, valued at approximately $3,293,070. This trade represents a 5.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Craig C. Hopkinson sold 9,000 shares of Alkermes stock in a transaction on Friday, May 1st. The stock was 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 approximately $2,718,392.60. The trade was a 9.96% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 39,102 shares of company stock valued at $1,265,090 in the last 90 days. Corporate insiders own 4.59% of the company’s stock.

Alkermes Price Performance

ALKS stock opened at $36.80 on Tuesday. Alkermes plc has a twelve month low of $25.17 and a twelve month high of $39.56. 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 firm has a market cap of $6.13 billion, a PE ratio of 40.89 and a beta of 0.31. The business has a 50 day moving average of $33.55 and a 200 day moving average of $31.59.

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

Alkermes Company 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.