Militia Capital Management LLC Makes New $1.13 Million Investment in Alkermes plc $ALKS

Militia Capital Management LLC purchased a new position in Alkermes plc (NASDAQ:ALKS) during the first quarter, Holdings Channel reports. The fund purchased 31,918 shares of the company’s stock, valued at approximately $1,129,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Cullen Frost Bankers Inc. purchased a new position in Alkermes in the fourth quarter worth $28,000. Johnson Financial Group Inc. bought a new position in Alkermes in the third quarter valued at $31,000. UMB Bank n.a. raised its position in Alkermes by 57.6% during the fourth quarter. UMB Bank n.a. now owns 1,220 shares of the company’s stock valued at $34,000 after purchasing an additional 446 shares in the last quarter. Salomon & Ludwin LLC raised its position in Alkermes by 115.6% during the fourth quarter. Salomon & Ludwin LLC now owns 1,244 shares of the company’s stock valued at $35,000 after purchasing an additional 667 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Alkermes by 1,041.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,324 shares of the company’s stock worth $37,000 after purchasing an additional 1,208 shares during the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Alkermes Stock Performance

Alkermes stock opened at $52.97 on Friday. 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 company has a market capitalization of $8.83 billion, a PE ratio of 58.86 and a beta of 0.34. The firm has a fifty day simple moving average of $46.62 and a two-hundred day simple moving average of $37.33. Alkermes plc has a twelve month low of $25.17 and a twelve month high of $55.67.

Insider Activity

In other news, Director Christopher I. Wright sold 2,000 shares of Alkermes stock in a transaction dated Friday, June 12th. The stock was 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 in the company, valued at approximately $1,158,168. The trade was a 7.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Craig C. Hopkinson sold 9,000 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $51.51, for a total value of $463,590.00. Following the completion of the sale, the executive vice president directly owned 73,389 shares of the company’s stock, valued at approximately $3,780,267.39. This trade represents a 10.92% 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. Over the last three months, insiders have sold 35,102 shares of company stock valued at $1,494,410. 4.59% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Weiss Ratings cut Alkermes from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Stifel Nicolaus reissued a “buy” rating and set a $63.00 price objective (up from $45.00) on shares of Alkermes in a report on Monday. Bank of America restated an “underperform” rating on shares of Alkermes in a research report on Monday, June 29th. Royal Bank Of Canada upped their target price on Alkermes from $45.00 to $56.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 9th. Finally, Zacks Research upgraded shares of Alkermes from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $52.50.

About Alkermes

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.