Alkermes plc $ALKS Shares Sold by Legal & General Group Plc

Legal & General Group Plc trimmed its holdings in Alkermes plc (NASDAQ:ALKS) by 14.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 429,497 shares of the company’s stock after selling 70,126 shares during the period. Legal & General Group Plc owned 0.26% of Alkermes worth $12,017,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Hantz Financial Services Inc. raised its position in shares of Alkermes by 65.1% in the fourth quarter. Hantz Financial Services Inc. now owns 2,045 shares of the company’s stock valued at $57,000 after buying an additional 806 shares during the last quarter. Todd Asset Management LLC increased its position in Alkermes by 36.4% during the fourth quarter. Todd Asset Management LLC now owns 16,845 shares of the company’s stock worth $471,000 after purchasing an additional 4,498 shares during the last quarter. MQS Management LLC acquired a new stake in Alkermes during the fourth quarter worth about $203,000. LSV Asset Management increased its position in Alkermes by 106.1% during the fourth quarter. LSV Asset Management now owns 30,500 shares of the company’s stock worth $853,000 after purchasing an additional 15,700 shares during the last quarter. Finally, Leonteq Securities AG acquired a new stake in Alkermes during the fourth quarter worth about $70,000. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Alkermes Trading Up 3.5%

Shares of ALKS stock opened at $42.76 on Thursday. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.27 and a quick ratio of 1.70. The firm has a market cap of $7.13 billion, a PE ratio of 47.51 and a beta of 0.38. The company has a 50-day moving average of $35.33 and a two-hundred day moving average of $32.01. Alkermes plc has a 1-year low of $25.17 and a 1-year high of $42.87.

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

Insider Activity

In other Alkermes news, EVP Craig C. Hopkinson sold 9,000 shares of the 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 completion of the transaction, the executive vice president owned 85,389 shares of the company’s stock, valued at $3,032,163.39. This trade represents a 9.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP David Joseph Gaffin sold 2,034 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $33.20, for a total transaction of $67,528.80. Following the completion of the transaction, the executive vice president directly owned 231,558 shares of the company’s stock, valued at approximately $7,687,725.60. The trade was a 0.87% 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. In the last ninety days, insiders have sold 31,068 shares of company stock valued at $1,133,064. 4.59% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ALKS. HC Wainwright restated a “neutral” rating and set a $43.00 price objective on shares of Alkermes in a research report on Thursday, February 26th. Weiss Ratings cut shares of Alkermes from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Truist Financial upgraded shares of Alkermes to a “strong-buy” rating in a research report on Wednesday, March 25th. Zacks Research upgraded shares of Alkermes from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Finally, Royal Bank Of Canada cut their price objective on shares of Alkermes from $47.00 to $45.00 and set an “outperform” rating for the company in a research report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Alkermes currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.40.

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.