Alkermes plc $ALKS Shares Bought by Profund Advisors LLC

Profund Advisors LLC boosted its stake in shares of Alkermes plc (NASDAQ:ALKS) by 38.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 55,421 shares of the company’s stock after purchasing an additional 15,394 shares during the period. Profund Advisors LLC’s holdings in Alkermes were worth $2,246,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ALKS. Choreo LLC grew its holdings in Alkermes by 3.1% during the third quarter. Choreo LLC now owns 26,611 shares of the company’s stock worth $1,078,000 after acquiring an additional 796 shares during the period. China Universal Asset Management Co. Ltd. raised its position in Alkermes by 15.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 30,610 shares of the company’s stock valued at $1,249,000 after acquiring an additional 4,083 shares in the last quarter. Sterling Capital Management LLC lifted its holdings in Alkermes by 340.2% in the third quarter. Sterling Capital Management LLC now owns 5,076 shares of the company’s stock valued at $206,000 after acquiring an additional 3,923 shares during the period. James Investment Research Inc. lifted its holdings in Alkermes by 32.7% in the third quarter. James Investment Research Inc. now owns 13,650 shares of the company’s stock valued at $553,000 after acquiring an additional 3,365 shares during the period. Finally, Root Financial Partners LLC purchased a new stake in Alkermes in the 3rd quarter worth approximately $25,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Insider Activity at Alkermes

In other Alkermes news, EVP David Gaffin sold 2,034 shares of the firm’s stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $41.03, for a total value of $83,455.02. Following the transaction, the executive vice president owned 221,388 shares in the company, valued at approximately $9,083,549.64. This trade represents a 0.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Craig C. Hopkinson sold 9,000 shares of Alkermes stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $46.99, for a total transaction of $422,910.00. Following the sale, the executive vice president directly owned 65,389 shares in the company, valued at approximately $3,072,629.11. This trade represents a 12.10% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 20,644 shares of company stock valued at $976,984. 4.59% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. HC Wainwright reaffirmed a “neutral” rating on shares of Alkermes in a report on Monday, September 21st. Mizuho raised shares of Alkermes to a “strong-buy” rating in a report on Wednesday, September 16th. Royal Bank Of Canada restated an “outperform” rating and set a $56.00 price target on shares of Alkermes in a research report on Tuesday, September 22nd. Stifel Nicolaus restated a “buy” rating and set a $63.00 price target (up from $45.00) on shares of Alkermes in a research report on Monday, July 20th. Finally, Robert W. Baird lifted their price objective on shares of Alkermes from $58.00 to $61.00 and gave the company an “outperform” rating in a report on Tuesday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $54.38.

Alkermes Stock Performance

NASDAQ ALKS opened at $45.34 on Monday. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.30 and a quick ratio of 1.85. The stock’s 50 day simple moving average is $44.06 and its 200-day simple moving average is $40.44. The company has a market cap of $7.61 billion, a PE ratio of 119.32 and a beta of 0.32. Alkermes plc has a 1-year low of $27.00 and a 1-year high of $55.67.

Alkermes Profile

Alkermes plc (NASDAQ:ALKS) is a biopharmaceutical company focused on developing and commercializing medicines for central nervous system diseases. Its research and development activities address conditions including schizophrenia, bipolar disorder, addiction, depression and other neuropsychiatric disorders.

The company’s marketed products include Vivitrol, an extended-release injectable form of naltrexone used to treat alcohol dependence and prevent relapse to opioid dependence; Aristada and Aristada Initio, long-acting injectable formulations of aripiprazole lauroxil for the treatment of schizophrenia; and Lybalvi, a combination of olanzapine and samidorphan approved for schizophrenia and bipolar I disorder in adults.

Founded in 1987, Alkermes is incorporated in Ireland and maintains its corporate headquarters in Waltham, Massachusetts.