14,313 Shares in Alkermes plc $ALKS Purchased by Headlands Technologies LLC

Headlands Technologies LLC acquired a new stake in Alkermes plc (NASDAQ:ALKS) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,313 shares of the company’s stock, valued at approximately $750,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Royal Bank of Canada raised its position in Alkermes by 117.2% during the first quarter. Royal Bank of Canada now owns 275,526 shares of the company’s stock worth $9,098,000 after acquiring an additional 148,696 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Alkermes in the first quarter valued at approximately $213,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Alkermes by 4.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 482,332 shares of the company’s stock worth $15,927,000 after purchasing an additional 20,091 shares in the last quarter. Cetera Investment Advisers increased its stake in shares of Alkermes by 32.3% during the 2nd quarter. Cetera Investment Advisers now owns 13,907 shares of the company’s stock worth $398,000 after purchasing an additional 3,394 shares in the last quarter. Finally, Quantbot Technologies LP raised its position in shares of Alkermes by 539.4% during the 2nd quarter. Quantbot Technologies LP now owns 6,976 shares of the company’s stock worth $200,000 after purchasing an additional 5,885 shares during the last quarter. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ALKS has been the topic of a number of recent research reports. Royal Bank Of Canada upped their target price on Alkermes from $45.00 to $56.00 and gave the company an “outperform” rating in a research note on Tuesday, June 9th. Robert W. Baird raised their price target on Alkermes from $48.00 to $58.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Bank of America restated an “underperform” rating on shares of Alkermes in a research report on Monday, June 29th. TD Cowen increased their price objective on Alkermes from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, June 22nd. Finally, UBS Group lifted their price objective on Alkermes from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. One research 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $54.56.

Insider Activity

In other news, Director Christopher I. Wright sold 2,000 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $45.10, for a total transaction of $90,200.00. Following the completion of the sale, the director directly owned 25,680 shares of the company’s stock, valued at $1,158,168. The trade was a 7.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Nancy Lynn Md Snyderman sold 44,472 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $50.35, for a total value of $2,239,165.20. Following the sale, the director owned 15,395 shares of the company’s stock, valued at approximately $775,138.25. The trade was a 74.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 87,150 shares of company stock valued at $4,322,324 in the last ninety days. 4.59% of the stock is owned by company insiders.

Alkermes Trading Up 0.4%

NASDAQ ALKS opened at $47.20 on Wednesday. The company has a market cap of $7.92 billion, a P/E ratio of 124.21 and a beta of 0.31. Alkermes plc has a 12 month low of $25.17 and a 12 month high of $55.67. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.30 and a quick ratio of 1.85. The company has a 50-day moving average of $50.91 and a 200-day moving average of $40.66.

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.