Eagle Health Investments LP Purchases 156,873 Shares of Alkermes plc $ALKS

Eagle Health Investments LP boosted its position in Alkermes plc (NASDAQ:ALKS) by 191.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 238,673 shares of the company’s stock after acquiring an additional 156,873 shares during the period. Alkermes accounts for about 1.5% of Eagle Health Investments LP’s holdings, making the stock its 22nd biggest position. Eagle Health Investments LP owned approximately 0.14% of Alkermes worth $8,439,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ALKS. Baker BROS. Advisors LP lifted its holdings in shares of Alkermes by 23.7% in the 4th quarter. Baker BROS. Advisors LP now owns 10,012,267 shares of the company’s stock worth $280,143,000 after purchasing an additional 1,920,916 shares in the last quarter. State Street Corp lifted its position in Alkermes by 10.9% in the 4th quarter. State Street Corp now owns 9,472,858 shares of the company’s stock valued at $265,051,000 after acquiring an additional 932,507 shares in the last quarter. Renaissance Technologies LLC lifted its position in Alkermes by 6.0% in the 4th quarter. Renaissance Technologies LLC now owns 6,668,028 shares of the company’s stock valued at $186,571,000 after acquiring an additional 375,500 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Alkermes by 32.0% during the 4th quarter. JPMorgan Chase & Co. now owns 5,184,547 shares of the company’s stock valued at $145,064,000 after purchasing an additional 1,256,377 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Alkermes by 2.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,522,378 shares of the company’s stock valued at $159,850,000 after purchasing an additional 109,595 shares during the last quarter. Institutional investors own 95.21% of the company’s stock.

Alkermes Stock Down 0.3%

ALKS stock opened at $52.73 on Tuesday. The stock has a market cap of $8.79 billion, a P/E ratio of 58.59 and a beta of 0.34. The company has a current ratio of 2.27, a quick ratio of 1.70 and a debt-to-equity ratio of 0.85. The stock’s fifty day simple moving average is $47.24 and its two-hundred day simple moving average is $37.67. Alkermes plc has a 1-year low of $25.17 and a 1-year high of $55.67.

Insider Transactions at Alkermes

In related news, EVP David Joseph Gaffin sold 2,034 shares of the business’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $54.03, for a total value of $109,897.02. Following the transaction, the executive vice president directly owned 227,490 shares of the company’s stock, valued at approximately $12,291,284.70. The trade was a 0.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Craig C. Hopkinson sold 9,000 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $51.51, for a total transaction of $463,590.00. Following the transaction, the executive vice president owned 73,389 shares of the company’s stock, valued at approximately $3,780,267.39. The trade was a 10.92% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 35,102 shares of company stock worth $1,494,410 in the last ninety days. Company insiders own 4.59% of the company’s stock.

Analyst Ratings Changes

ALKS has been the topic of a number of analyst reports. Weiss Ratings downgraded shares of Alkermes from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Bank of America reiterated an “underperform” rating on shares of Alkermes in a report on Monday, June 29th. JPMorgan Chase & Co. initiated coverage on shares of Alkermes in a research report on Monday, July 13th. They set a “neutral” rating and a $60.00 price target on the stock. Wells Fargo & Company boosted their price target on shares of Alkermes from $44.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, June 29th. Finally, Needham & Company LLC upped their price objective on shares of Alkermes from $61.00 to $62.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $52.50.

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.