Y Intercept Hong Kong Ltd Sells 85,366 Shares of Alkermes plc $ALKS

Y Intercept Hong Kong Ltd reduced its stake in Alkermes plc (NASDAQ:ALKS) by 61.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 53,067 shares of the company’s stock after selling 85,366 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Alkermes were worth $1,592,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Resona Asset Management Co. Ltd. raised its holdings in Alkermes by 4.9% during the third quarter. Resona Asset Management Co. Ltd. now owns 18,906 shares of the company’s stock worth $567,000 after buying an additional 881 shares during the last quarter. Covestor Ltd raised its holdings in shares of Alkermes by 19.7% in the 3rd quarter. Covestor Ltd now owns 7,915 shares of the company’s stock worth $237,000 after acquiring an additional 1,304 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in Alkermes by 12.5% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 139,166 shares of the company’s stock valued at $4,175,000 after acquiring an additional 15,501 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new position in Alkermes during the 3rd quarter valued at about $234,000. Finally, Oliver Luxxe Assets LLC increased its holdings in Alkermes by 3.0% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 45,884 shares of the company’s stock worth $1,377,000 after purchasing an additional 1,333 shares in the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on ALKS shares. Piper Sandler reiterated an “overweight” rating and issued a $45.00 target price (up previously from $38.00) on shares of Alkermes in a research note on Thursday, October 23rd. Wall Street Zen downgraded Alkermes from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 9th. Wells Fargo & Company decreased their price target on Alkermes from $42.00 to $37.00 and set an “overweight” rating for the company in a research report on Thursday, November 13th. Mizuho upped their price objective on Alkermes from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. Finally, HC Wainwright reaffirmed a “neutral” rating on shares of Alkermes in a research report on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Alkermes currently has a consensus rating of “Moderate Buy” and an average target price of $44.69.

Insider Activity

In related news, EVP Craig C. Hopkinson sold 5,000 shares of the stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $30.00, for a total transaction of $150,000.00. Following the sale, the executive vice president owned 61,740 shares of the company’s stock, valued at approximately $1,852,200. This represents a 7.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 25,748 shares of company stock worth $765,060. Insiders own 4.40% of the company’s stock.

Alkermes Trading Down 2.8%

Shares of ALKS stock opened at $33.89 on Friday. The firm’s 50 day moving average is $29.82 and its 200 day moving average is $29.38. The stock has a market capitalization of $5.60 billion, a P/E ratio of 16.78 and a beta of 0.48. Alkermes plc has a 12 month low of $25.17 and a 12 month high of $36.45.

Alkermes (NASDAQ:ALKS) last issued its earnings results on Tuesday, October 28th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.08. The business had revenue of $394.19 million for the quarter, compared to analysts’ expectations of $355.23 million. Alkermes had a net margin of 22.27% and a return on equity of 21.81%. During the same quarter in the previous year, the firm posted $0.73 EPS. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, equities analysts predict that Alkermes plc will post 1.31 EPS for the current year.

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.