Panagora Asset Management Inc. Acquires 41,767 Shares of Alkermes plc $ALKS

Panagora Asset Management Inc. lifted its holdings in Alkermes plc (NASDAQ:ALKS) by 4.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 928,964 shares of the company’s stock after buying an additional 41,767 shares during the period. Panagora Asset Management Inc.’s holdings in Alkermes were worth $25,992,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Sanctuary Advisors LLC increased its holdings in shares of Alkermes by 2.7% in the 4th quarter. Sanctuary Advisors LLC now owns 12,141 shares of the company’s stock worth $340,000 after buying an additional 315 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Alkermes by 3.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,326 shares of the company’s stock worth $289,000 after buying an additional 351 shares during the last quarter. Orion Porfolio Solutions LLC increased its holdings in shares of Alkermes by 4.5% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 8,762 shares of the company’s stock worth $263,000 after buying an additional 376 shares during the last quarter. Horizon Investments LLC increased its holdings in shares of Alkermes by 0.9% in the 3rd quarter. Horizon Investments LLC now owns 43,002 shares of the company’s stock worth $1,290,000 after buying an additional 387 shares during the last quarter. Finally, AMG National Trust Bank increased its holdings in shares of Alkermes by 0.6% in the 3rd quarter. AMG National Trust Bank now owns 60,175 shares of the company’s stock worth $1,805,000 after buying an additional 388 shares during the last quarter. 95.21% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ALKS has been the topic of a number of research reports. Bank of America boosted their target price on shares of Alkermes from $34.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. HC Wainwright restated a “neutral” rating and issued a $43.00 target price on shares of Alkermes in a report on Thursday, February 26th. Weiss Ratings downgraded shares of Alkermes from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Wells Fargo & Company boosted their target price on shares of Alkermes from $43.00 to $44.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, Truist Financial upgraded shares of Alkermes to a “strong-buy” rating in a report on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Alkermes currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.13.

Alkermes Stock Performance

Shares of NASDAQ:ALKS opened at $44.36 on Tuesday. The company has a market capitalization of $7.39 billion, a price-to-earnings ratio of 49.29 and a beta of 0.38. Alkermes plc has a 12 month low of $25.17 and a 12 month high of $45.76. The firm’s 50-day moving average is $37.29 and its 200 day moving average is $32.85. The company has a current ratio of 2.27, a quick ratio of 1.70 and a debt-to-equity ratio of 0.85.

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

Insider Activity at Alkermes

In related news, Director Christopher I. Wright sold 2,000 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $45.10, for a total transaction of $90,200.00. Following the transaction, the director directly owned 25,680 shares in the company, valued at approximately $1,158,168. This represents a 7.23% decrease in their position. The sale was disclosed in a document filed with the SEC, 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 company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $35.51, for a total transaction of $319,590.00. Following the transaction, the executive vice president owned 85,389 shares in the company, valued at $3,032,163.39. The trade was a 9.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 35,102 shares of company stock worth $1,310,828. Insiders own 4.59% of the company’s stock.

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.