Alkermes plc $ALKS Position Lifted by Commodore Capital LP

Commodore Capital LP lifted its holdings in shares of Alkermes plc (NASDAQ:ALKS) by 14.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,550,000 shares of the company’s stock after acquiring an additional 453,246 shares during the period. Alkermes accounts for about 6.6% of Commodore Capital LP’s investment portfolio, making the stock its 2nd largest holding. Commodore Capital LP’s holdings in Alkermes were worth $99,329,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Assetmark Inc. lifted its position in Alkermes by 933.8% during the third quarter. Assetmark Inc. now owns 827 shares of the company’s stock worth $25,000 after buying an additional 747 shares during the period. Cullen Frost Bankers Inc. purchased a new stake in Alkermes in the 4th quarter valued at about $28,000. Johnson Financial Group Inc. acquired a new position in shares of Alkermes during the 3rd quarter valued at about $31,000. UMB Bank n.a. lifted its holdings in shares of Alkermes by 57.6% during the 4th quarter. UMB Bank n.a. now owns 1,220 shares of the company’s stock worth $34,000 after acquiring an additional 446 shares during the period. Finally, Salomon & Ludwin LLC boosted its position in shares of 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 acquiring an additional 667 shares during the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Insider Buying and Selling at Alkermes

In other Alkermes news, Director Christopher I. Wright sold 2,000 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $45.10, for a total transaction of $90,200.00. Following the transaction, the director owned 25,680 shares in the company, valued at $1,158,168. The trade was a 7.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $67,528.80. Following the completion of the sale, the executive vice president directly owned 231,558 shares of the company’s stock, valued at $7,687,725.60. The trade was a 0.87% 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 have sold 35,102 shares of company stock valued at $1,310,828 over the last three months. 4.59% of the stock is owned by company insiders.

Alkermes Price Performance

ALKS opened at $44.51 on Thursday. Alkermes plc has a 52-week low of $25.17 and a 52-week high of $45.76. The company has a 50 day moving average of $37.68 and a two-hundred day moving average of $33.06. The company has a market cap of $7.42 billion, a P/E ratio of 49.46 and a beta of 0.38. The company has a quick ratio of 1.70, a current ratio of 2.27 and a debt-to-equity ratio of 0.85.

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on ALKS shares. HC Wainwright reaffirmed a “neutral” rating and set a $43.00 price target on shares of Alkermes in a research report on Thursday, February 26th. Wall Street Zen downgraded Alkermes from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. 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. Royal Bank Of Canada lifted their target price on Alkermes from $45.00 to $56.00 and gave the company an “outperform” rating in a report on Tuesday, June 9th. Finally, Bank of America boosted their price target on Alkermes from $34.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday, April 9th. One investment 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’s stock. Based on data from MarketBeat, Alkermes has a consensus rating of “Moderate Buy” and a consensus target price of $46.13.

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.