Royal Bank of Canada Sells 21,159 Shares of Alkermes plc $ALKS

Royal Bank of Canada decreased its stake in Alkermes plc (NASDAQ:ALKS) by 6.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 304,337 shares of the company’s stock after selling 21,159 shares during the quarter. Royal Bank of Canada’s holdings in Alkermes were worth $10,761,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Ashton Thomas Private Wealth LLC purchased a new position in shares of Alkermes during the 1st quarter valued at about $213,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Alkermes by 4.3% in 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 acquiring an additional 20,091 shares in the last quarter. Cetera Investment Advisers increased its holdings in Alkermes by 32.3% in the 2nd quarter. Cetera Investment Advisers now owns 13,907 shares of the company’s stock worth $398,000 after acquiring an additional 3,394 shares in the last quarter. Quantbot Technologies LP raised its stake in 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 acquiring an additional 5,885 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Alkermes during the 2nd quarter worth approximately $2,955,000. Institutional investors own 95.21% of the company’s stock.

Insider Transactions at Alkermes

In other Alkermes news, EVP Craig C. Hopkinson sold 9,000 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $48.58, for a total transaction of $437,220.00. Following the completion of the transaction, the executive vice president owned 69,389 shares in the company, valued at $3,370,917.62. This trade represents a 11.48% decrease in their position. The transaction was disclosed in a 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 Alkermes stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $48.58, for a total value of $98,811.72. Following the completion of the sale, the executive vice president directly owned 225,456 shares in the company, valued at approximately $10,952,652.48. The trade was a 0.89% 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. Over the last ninety days, insiders sold 79,574 shares of company stock valued at $3,901,478. 4.59% of the stock is owned by company insiders.

Alkermes Stock Up 1.7%

Shares of ALKS stock opened at $49.17 on Friday. The company’s fifty day simple moving average is $49.28 and its two-hundred day simple moving average is $38.83. Alkermes plc has a 52 week low of $25.17 and a 52 week high of $55.67. The stock has a market cap of $8.25 billion, a P/E ratio of 129.40 and a beta of 0.34. The company has a quick ratio of 1.85, a current ratio of 2.30 and a debt-to-equity ratio of 0.82.

Wall Street Analysts Forecast Growth

ALKS has been the subject of a number of recent analyst reports. Bank of America reiterated an “underperform” rating on shares of Alkermes in a research report on Monday, June 29th. Zacks Research upgraded shares of Alkermes from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $63.00 target price (up from $45.00) on shares of Alkermes in a report on Monday, July 20th. Needham & Company LLC increased their price target on Alkermes from $61.00 to $62.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Finally, Mizuho increased their price target on Alkermes from $53.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, July 2nd. One investment 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’s stock. According to MarketBeat, Alkermes has an average rating of “Moderate Buy” and an average price target of $54.56.

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.