Alkermes plc $ALKS Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its stake in shares of Alkermes plc (NASDAQ:ALKS) by 36.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 942,184 shares of the company’s stock after selling 535,030 shares during the period. Pictet Asset Management Holding SA owned 0.57% of Alkermes worth $33,316,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Louisiana State Employees Retirement System acquired a new position in Alkermes in the first quarter valued at $2,588,000. Assenagon Asset Management S.A. increased its stake in Alkermes by 10.7% during the first quarter. Assenagon Asset Management S.A. now owns 122,127 shares of the company’s stock worth $4,318,000 after acquiring an additional 11,845 shares during the last quarter. SG Americas Securities LLC increased its stake in Alkermes by 399.0% during the first quarter. SG Americas Securities LLC now owns 178,993 shares of the company’s stock worth $6,329,000 after acquiring an additional 143,121 shares during the last quarter. Evolve Private Wealth LLC raised its holdings in shares of Alkermes by 3.3% in the 1st quarter. Evolve Private Wealth LLC now owns 20,401 shares of the company’s stock worth $721,000 after purchasing an additional 652 shares during the period. Finally, Diversified Trust Co raised its holdings in shares of Alkermes by 11.9% in the 1st quarter. Diversified Trust Co now owns 54,913 shares of the company’s stock worth $1,942,000 after purchasing an additional 5,855 shares during the period. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Alkermes Price Performance

ALKS stock opened at $52.40 on Wednesday. The company has a quick ratio of 1.70, a current ratio of 2.27 and a debt-to-equity ratio of 0.85. Alkermes plc has a 52-week low of $25.17 and a 52-week high of $55.28. The stock’s 50 day moving average is $40.53 and its two-hundred day moving average is $34.37. The company has a market capitalization of $8.73 billion, a PE ratio of 58.22 and a beta of 0.38.

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Royal Bank Of Canada boosted their target price on Alkermes from $45.00 to $56.00 and gave the stock an “outperform” rating in a report on Tuesday, June 9th. Weiss Ratings lowered shares of Alkermes from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. HC Wainwright reaffirmed a “neutral” rating on shares of Alkermes in a research report on Thursday, June 18th. Wells Fargo & Company boosted their price objective on shares of Alkermes from $44.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Robert W. Baird increased their price objective on shares of Alkermes from $45.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $48.38.

Insider Activity at Alkermes

In other Alkermes news, EVP Craig C. Hopkinson sold 9,000 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $41.67, for a total transaction of $375,030.00. Following the transaction, the executive vice president directly owned 77,389 shares in the company, valued at $3,224,799.63. This represents a 10.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP David Joseph Gaffin sold 2,034 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $43.05, for a total transaction of $87,563.70. Following the transaction, the executive vice president directly owned 229,524 shares of the company’s stock, valued at approximately $9,881,008.20. This represents a 0.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 26,102 shares of company stock valued at $991,238 over the last ninety days. Corporate insiders own 4.59% of the company’s stock.

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.