Alkermes plc $ALKS Position Cut by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management cut its Alkermes stake by 37.6% in the third quarter, selling 34,801 shares and retaining 57,791 shares valued at approximately $2.34 million. Institutional investors collectively own 95.21% of ALKS.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $54.47. Recent targets range from $56 to $63, including upgrades from Mizuho and Stifel Nicolaus.
• ALKS opened at $43.63, compared with a 52-week range of $27.00 to $55.67. Insider selling totaled 76,150 shares worth about $3.75 million over the past quarter, while insiders retain a 4.59% ownership stake.

Robeco Institutional Asset Management B.V. trimmed its position in Alkermes plc (NASDAQ:ALKS - Free Report) by 37.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,791 shares of the company's stock after selling 34,801 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in Alkermes were worth $2,342,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ALKS. Ameritas Advisory Services LLC bought a new position in shares of Alkermes in the 2nd quarter valued at about $39,000. Versant Capital Management Inc grew its position in shares of Alkermes by 33.9% during the 2nd quarter. Versant Capital Management Inc now owns 1,445 shares of the company's stock worth $76,000 after buying an additional 366 shares during the period. Harbor Investment Advisory LLC bought a new stake in shares of Alkermes during the second quarter worth approximately $82,000. C M Bidwell & Associates Ltd. bought a new stake in shares of Alkermes during the second quarter worth approximately $104,000. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of Alkermes during the second quarter worth approximately $113,000. 95.21% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on ALKS shares. Needham & Company LLC reaffirmed a "buy" rating and set a $62.00 target price on shares of Alkermes in a report on Monday, September 21st. Mizuho upgraded Alkermes to a "strong-buy" rating in a research report on Wednesday, September 16th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $56.00 price objective on shares of Alkermes in a research note on Tuesday, September 22nd. Weiss Ratings reiterated a "hold (c)" rating on shares of Alkermes in a report on Friday, August 7th. Finally, Stifel Nicolaus reissued a "buy" rating and issued a $63.00 price target (up from $45.00) on shares of Alkermes in a report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $54.47.

Alkermes Stock Performance

ALKS opened at $43.63 on Monday. The company has a market capitalization of $7.32 billion, a price-to-earnings ratio of 114.82 and a beta of 0.32. The business's 50-day moving average price is $44.43 and its two-hundred day moving average price is $44.03. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.30 and a quick ratio of 1.85. Alkermes plc has a 1 year low of $27.00 and a 1 year high of $55.67.

Insider Activity

In other news, Director Nancy Lynn Md Snyderman sold 44,472 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $50.35, for a total transaction of $2,239,165.20. Following the transaction, the director owned 15,395 shares in the company, valued at approximately $775,138.25. This trade represents a 74.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David Gaffin sold 2,034 shares of Alkermes stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $41.03, for a total value of $83,455.02. Following the completion of the transaction, the executive vice president directly owned 221,388 shares of the company's stock, valued at $9,083,549.64. This represents a 0.91% 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. Over the last quarter, insiders have sold 76,150 shares of company stock valued at $3,752,181. Company insiders own 4.59% of the company's stock.

About Alkermes

Alkermes plc NASDAQ: ALKS is a biopharmaceutical company focused on developing and commercializing medicines for central nervous system diseases. Its research and development activities address conditions including schizophrenia, bipolar disorder, addiction, depression and other neuropsychiatric disorders.

The company's marketed products include Vivitrol, an extended-release injectable form of naltrexone used to treat alcohol dependence and prevent relapse to opioid dependence; Aristada and Aristada Initio, long-acting injectable formulations of aripiprazole lauroxil for the treatment of schizophrenia; and Lybalvi, a combination of olanzapine and samidorphan approved for schizophrenia and bipolar I disorder in adults.

Founded in 1987, Alkermes is incorporated in Ireland and maintains its corporate headquarters in Waltham, Massachusetts.

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