Profund Advisors LLC Purchases 36,067 Shares of Alkermes plc $ALKS

Profund Advisors LLC increased its position in shares of Alkermes plc (NASDAQ:ALKS) by 80.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 80,624 shares of the company’s stock after acquiring an additional 36,067 shares during the period. Profund Advisors LLC’s holdings in Alkermes were worth $2,256,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ALKS. Assetmark Inc. lifted its holdings in Alkermes by 933.8% during the 3rd quarter. Assetmark Inc. now owns 827 shares of the company’s stock worth $25,000 after buying an additional 747 shares during the period. Johnson Financial Group Inc. acquired a new position in Alkermes during the 3rd quarter worth about $31,000. Salomon & Ludwin LLC lifted its holdings in Alkermes by 115.6% during the 4th quarter. Salomon & Ludwin LLC now owns 1,244 shares of the company’s stock worth $35,000 after buying an additional 667 shares during the period. Hantz Financial Services Inc. lifted its holdings in Alkermes by 395.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,239 shares of the company’s stock worth $37,000 after buying an additional 989 shares during the period. Finally, Osaic Holdings Inc. lifted its holdings in Alkermes by 56.4% during the 2nd quarter. Osaic Holdings Inc. now owns 1,945 shares of the company’s stock worth $56,000 after buying an additional 701 shares during the period. 95.21% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP David Joseph Gaffin sold 2,034 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $33.20, for a total transaction of $67,528.80. Following the transaction, the executive vice president directly owned 231,558 shares of the company’s stock, valued at approximately $7,687,725.60. This represents a 0.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Craig C. Hopkinson sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $33.40, for a total value of $300,600.00. Following the transaction, the executive vice president directly owned 81,389 shares in the company, valued at approximately $2,718,392.60. This trade represents a 9.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 39,102 shares of company stock valued at $1,265,090. 4.59% of the stock is owned by company insiders.

Alkermes Stock Down 0.5%

Shares of NASDAQ:ALKS opened at $37.00 on Wednesday. The company has a market capitalization of $6.17 billion, a price-to-earnings ratio of 41.11 and a beta of 0.31. 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 business’s 50-day moving average is $32.83 and its 200-day moving average is $31.41. Alkermes plc has a 1 year low of $25.17 and a 1 year high of $39.56.

Alkermes (NASDAQ:ALKS) last posted its quarterly earnings results on Saturday, February 14th. The company reported $0.29 earnings per share for the quarter. Alkermes had a return on equity of 9.26% and a net margin of 9.78%.The business had revenue of $384.55 million for the quarter. Equities research analysts predict that Alkermes plc will post -0.42 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Wolfe Research assumed coverage on Alkermes in a report on Monday, February 23rd. They set an “outperform” rating and a $45.00 target price on the stock. Needham & Company LLC lifted their target price on Alkermes from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Truist Financial raised Alkermes to a “strong-buy” rating in a report on Wednesday, March 25th. Wells Fargo & Company lifted their target price on Alkermes from $43.00 to $44.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, UBS Group lifted their target price on Alkermes from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $45.40.

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.