Alkermes plc $ALKS Shares Newly Acquired by M&G PLC

M&G PLC bought a new stake in shares of Alkermes plc (NASDAQ:ALKS) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 350,438 shares of the company’s stock, valued at approximately $14,368,000. M&G PLC owned 0.21% of Alkermes at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ALKS. Dimensional Fund Advisors LP lifted its position in shares of Alkermes by 2.5% during the first quarter. Dimensional Fund Advisors LP now owns 4,522,378 shares of the company’s stock worth $159,850,000 after purchasing an additional 109,595 shares in the last quarter. Commodore Capital LP grew its holdings in shares of Alkermes by 18.3% in the first quarter. Commodore Capital LP now owns 4,200,000 shares of the company’s stock valued at $148,512,000 after purchasing an additional 650,000 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Alkermes by 104.2% in the first quarter. First Trust Advisors LP now owns 2,968,785 shares of the company’s stock valued at $104,976,000 after purchasing an additional 1,514,783 shares in the last quarter. Affinity Asset Advisors LLC grew its holdings in shares of Alkermes by 35.0% in the first quarter. Affinity Asset Advisors LLC now owns 1,350,000 shares of the company’s stock valued at $47,736,000 after purchasing an additional 350,000 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its holdings in shares of Alkermes by 20.4% in the third quarter. Pictet Asset Management Holding SA now owns 1,009,318 shares of the company’s stock valued at $41,012,000 after purchasing an additional 171,292 shares in the last quarter. 95.21% of the stock is owned by institutional investors and hedge funds.

Alkermes Price Performance

Shares of ALKS opened at $46.47 on Wednesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.42 and a quick ratio of 2.02. Alkermes plc has a 1-year low of $27.00 and a 1-year high of $55.67. The firm has a fifty day moving average price of $43.67 and a 200 day moving average price of $40.92. The stock has a market cap of $7.81 billion, a PE ratio of -2,322.34 and a beta of 0.32.

Alkermes (NASDAQ:ALKS) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.17. Alkermes had a positive return on equity of 0.40% and a negative net margin of 0.02%. The company had revenue of $480.13 million during the quarter, compared to analysts’ expectations of $463.48 million. During the same period last year, the firm earned $0.49 EPS. The firm’s revenue for the quarter was up 21.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Alkermes plc will post -0.56 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Christian Nichols sold 7,576 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $49.23, for a total transaction of $372,966.48. Following the completion of the transaction, the senior vice president directly owned 102,193 shares of the company’s stock, valued at $5,030,961.39. This trade represents a 6.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP David Gaffin sold 2,035 shares of the business’s stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $46.17, for a total transaction of $93,955.95. Following the completion of the transaction, the executive vice president directly owned 219,353 shares of the company’s stock, valued at $10,127,528.01. The trade was a 0.92% decrease in their position. 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. Over the last quarter, insiders sold 22,679 shares of company stock worth $1,070,940. Insiders own 4.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Robert W. Baird set a $61.00 target price on shares of Alkermes in a report on Wednesday, November 4th. Needham & Company LLC restated a “buy” rating and issued a $62.00 price target on shares of Alkermes in a research note on Monday, September 21st. Mizuho raised Alkermes to a “strong-buy” rating in a research report on Wednesday, September 16th. HC Wainwright upped their price objective on Alkermes from $43.00 to $50.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 4th. Finally, TD Cowen reiterated a “buy” rating on shares of Alkermes in a research note on Monday, September 21st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $55.06.

About Alkermes

Alkermes plc is a biopharmaceutical company focused on developing and commercializing medicines for neuroscience-related conditions, including serious mental illness and addiction. Founded in 1987, the company has operations in the United States and Ireland, with its corporate headquarters in Dublin and major U.S. operations in Massachusetts. Its marketed medicines include Vivitrol, an extended-release injectable formulation of naltrexone used to treat alcohol dependence and to prevent relapse to opioid dependence after detoxification; Aristada, an injectable treatment for schizophrenia in adults; and Lybalvi, a medicine for schizophrenia and bipolar I disorder in adults.