Peregrine Capital Management LLC Sells 10,326 Shares of Alkermes plc $ALKS

Peregrine Capital Management LLC lowered its holdings in shares of Alkermes plc (NASDAQ:ALKS) by 4.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 244,007 shares of the company’s stock after selling 10,326 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.15% of Alkermes worth $8,628,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the business. Victory Capital Management Inc. raised its holdings in Alkermes by 43.1% in the 3rd quarter. Victory Capital Management Inc. now owns 344,202 shares of the company’s stock worth $10,326,000 after purchasing an additional 103,749 shares during the period. Tudor Investment Corp ET AL purchased a new position in Alkermes during the third quarter valued at $1,691,000. Fisher Asset Management LLC grew its holdings in Alkermes by 21.0% during the fourth quarter. Fisher Asset Management LLC now owns 390,493 shares of the company’s stock valued at $10,926,000 after purchasing an additional 67,745 shares during the period. Profund Advisors LLC grew its holdings in Alkermes by 80.9% during the fourth quarter. Profund Advisors LLC now owns 80,624 shares of the company’s stock valued at $2,256,000 after purchasing an additional 36,067 shares during the period. Finally, Abacus FCF Advisors LLC purchased a new stake in Alkermes in the fourth quarter worth about $6,141,000. 95.21% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Alkermes news, EVP David Joseph Gaffin sold 2,034 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $43.05, for a total transaction of $87,563.70. Following the completion of the transaction, the executive vice president owned 229,524 shares in the company, valued at $9,881,008.20. The trade was a 0.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christopher I. Wright sold 2,000 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $45.10, for a total value of $90,200.00. Following the transaction, the director owned 25,680 shares of the company’s stock, valued at approximately $1,158,168. The trade was a 7.23% 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. Insiders sold a total of 26,102 shares of company stock valued at $991,238 over the last 90 days. Insiders own 4.59% of the company’s stock.

Alkermes Stock Performance

NASDAQ ALKS opened at $52.40 on Wednesday. The business’s 50 day moving average price is $40.53 and its 200-day moving average price is $34.37. Alkermes plc has a fifty-two week low of $25.17 and a fifty-two week high of $55.28. The company has a market cap of $8.73 billion, a P/E ratio of 58.22 and a beta of 0.38. 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 issued its quarterly earnings results on Saturday, February 14th. The company reported $0.29 earnings per share (EPS) 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. Sell-side analysts predict that Alkermes plc will post -0.43 earnings per share for the current year.

Analyst Ratings Changes

ALKS has been the topic of a number of recent analyst reports. Bank of America restated an “underperform” rating on shares of Alkermes in a research note on Monday. Robert W. Baird raised their price objective on Alkermes from $45.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. TD Cowen lifted their target price on Alkermes from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. Zacks Research upgraded Alkermes from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Finally, Needham & Company LLC increased their price target on Alkermes from $54.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $48.38.

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.