Lombard Odier Asset Management USA Corp Takes $362,000 Position in Alkermes plc $ALKS

Lombard Odier Asset Management USA Corp acquired a new stake in Alkermes plc (NASDAQ:ALKS) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 10,232 shares of the company’s stock, valued at approximately $362,000.

Several other hedge funds have also recently bought and sold shares of the company. Baker BROS. Advisors LP grew its position in Alkermes by 23.7% in the 4th quarter. Baker BROS. Advisors LP now owns 10,012,267 shares of the company’s stock valued at $280,143,000 after acquiring an additional 1,920,916 shares in the last quarter. State Street Corp boosted its stake in shares of Alkermes by 10.9% in the fourth quarter. State Street Corp now owns 9,472,858 shares of the company’s stock valued at $265,051,000 after purchasing an additional 932,507 shares during the period. Renaissance Technologies LLC grew its stake in shares of Alkermes by 6.0% in the fourth quarter. Renaissance Technologies LLC now owns 6,668,028 shares of the company’s stock worth $186,571,000 after acquiring an additional 375,500 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Alkermes by 32.0% during the fourth quarter. JPMorgan Chase & Co. now owns 5,184,547 shares of the company’s stock worth $145,064,000 after acquiring an additional 1,256,377 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Alkermes by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 4,522,378 shares of the company’s stock valued at $159,850,000 after acquiring an additional 109,595 shares in the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.

Alkermes Stock Performance

Shares of ALKS opened at $52.89 on Friday. The stock has a 50 day moving average price of $46.92 and a 200 day moving average price of $37.44. 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 $8.82 billion, a price-to-earnings ratio of 58.77 and a beta of 0.34. Alkermes plc has a 52-week low of $25.17 and a 52-week high of $55.67.

Insider Transactions at Alkermes

In related news, EVP David Joseph Gaffin sold 2,034 shares of Alkermes stock in a transaction on Monday, July 6th. The shares were sold at an average price of $54.03, for a total transaction of $109,897.02. Following the sale, the executive vice president directly owned 227,490 shares in the company, valued at $12,291,284.70. This trade represents a 0.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 Wednesday, July 1st. The stock was sold at an average price of $51.51, for a total transaction of $463,590.00. Following the sale, the executive vice president owned 73,389 shares in the company, valued at $3,780,267.39. This represents a 10.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 35,102 shares of company stock worth $1,494,410. 4.59% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. UBS Group boosted their target price on Alkermes from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Wells Fargo & Company upped their target price on shares of Alkermes from $44.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. Robert W. Baird boosted their price target on shares of Alkermes from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Stifel Nicolaus restated a “buy” rating and issued a $63.00 price objective (up from $45.00) on shares of Alkermes in a report on Monday, July 20th. Finally, Zacks Research upgraded shares of Alkermes from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $52.50.

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.