Teachers Retirement System of The State of Kentucky Purchases 12,165 Shares of Alkermes plc $ALKS

Teachers Retirement System of The State of Kentucky lifted its position in Alkermes plc (NASDAQ:ALKS) by 18.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 77,928 shares of the company’s stock after buying an additional 12,165 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Alkermes were worth $2,756,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ALKS. Royal Bank of Canada grew its holdings in Alkermes by 117.2% in the first quarter. Royal Bank of Canada now owns 275,526 shares of the company’s stock worth $9,098,000 after purchasing an additional 148,696 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Alkermes during the 1st quarter valued at $213,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Alkermes by 4.3% during 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 valued at $15,927,000 after purchasing an additional 20,091 shares during the last quarter. Cetera Investment Advisers increased its position in Alkermes by 32.3% during the 2nd quarter. Cetera Investment Advisers now owns 13,907 shares of the company’s stock valued at $398,000 after buying an additional 3,394 shares in the last quarter. Finally, Quantbot Technologies LP increased its position in Alkermes by 539.4% during the 2nd quarter. Quantbot Technologies LP now owns 6,976 shares of the company’s stock valued at $200,000 after buying an additional 5,885 shares in the last quarter. Institutional investors own 95.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ALKS. Zacks Research upgraded Alkermes from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. UBS Group increased their price objective on shares of Alkermes from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Mizuho lifted their target price on shares of Alkermes from $53.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, July 2nd. Robert W. Baird boosted their target price 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. Finally, Bank of America restated an “underperform” rating on shares of Alkermes in a research note on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Alkermes currently has a consensus rating of “Moderate Buy” and an average price target of $51.80.

Insider Activity at Alkermes

In other Alkermes news, Director Christopher I. Wright sold 2,000 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $45.10, for a total value of $90,200.00. Following the sale, the director directly owned 25,680 shares of the company’s stock, valued at approximately $1,158,168. This represents a 7.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 stock was sold at an average price of $51.51, for a total value of $463,590.00. Following the sale, the executive vice president directly owned 73,389 shares in the company, valued at $3,780,267.39. This represents a 10.92% decrease in their ownership of the stock. 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. Insiders sold 35,102 shares of company stock worth $1,494,410 over the last three months. Company insiders own 4.59% of the company’s stock.

Alkermes Price Performance

Shares of NASDAQ:ALKS opened at $51.60 on Wednesday. Alkermes plc has a twelve month low of $25.17 and a twelve month high of $55.67. 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 company has a market cap of $8.60 billion, a PE ratio of 57.33 and a beta of 0.34. The company’s 50 day moving average is $44.42 and its 200 day moving average is $36.13.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings data on Saturday, February 14th. The company reported $0.29 EPS for the quarter. The business 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, sell-side analysts forecast that Alkermes plc will post -0.42 EPS for the current year.

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.