Alkermes plc $ALKS Shares Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• VIRGINIA RETIREMENT SYSTEMS ET Al increased its Alkermes stake by 8.3% in the fourth quarter, bringing holdings to 976,483 shares worth about $27.3 million.
• Several other institutional investors also boosted positions, and overall 95.21% of Alkermes stock is held by institutions and hedge funds.
• Analysts remain broadly positive on the stock, with a Moderate Buy consensus and an average price target of $45.40, while the shares recently traded near their 52-week high after rising 1.6%.

VIRGINIA RETIREMENT SYSTEMS ET Al grew its position in Alkermes plc (NASDAQ:ALKS - Free Report) by 8.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 976,483 shares of the company's stock after buying an additional 75,150 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.59% of Alkermes worth $27,322,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of ALKS. UBS Group AG grew its stake in shares of Alkermes by 237.4% in the fourth quarter. UBS Group AG now owns 2,544,895 shares of the company's stock valued at $71,206,000 after buying an additional 1,790,729 shares in the last quarter. Baker BROS. Advisors LP grew its stake in shares of Alkermes by 26.2% in the third quarter. Baker BROS. Advisors LP now owns 8,091,351 shares of the company's stock valued at $242,741,000 after buying an additional 1,680,748 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Alkermes by 1,070.6% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,208,944 shares of the company's stock valued at $36,268,000 after buying an additional 1,105,666 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Alkermes by 787.2% in the second quarter. BNP Paribas Financial Markets now owns 1,135,478 shares of the company's stock valued at $32,486,000 after buying an additional 1,007,488 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Alkermes by 20.2% in the third quarter. American Century Companies Inc. now owns 4,397,471 shares of the company's stock valued at $131,924,000 after buying an additional 740,248 shares in the last quarter. 95.21% of the stock is owned by institutional investors and hedge funds.

Alkermes Stock Up 1.6%

Shares of NASDAQ ALKS opened at $38.91 on Thursday. The company has a market capitalization of $6.49 billion, a price-to-earnings ratio of 43.23 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 has a 50-day moving average of $32.14 and a two-hundred day moving average of $31.21. Alkermes plc has a 1 year low of $25.17 and a 1 year high of $39.56.

Alkermes (NASDAQ:ALKS - Get Free Report) last posted its 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 during the quarter. On average, analysts forecast that Alkermes plc will post -0.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Zacks Research raised Alkermes from a "strong sell" rating to a "hold" rating in a research note on Monday, April 27th. Needham & Company LLC boosted their target price on Alkermes from $45.00 to $50.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Piper Sandler lowered their target price on Alkermes from $45.00 to $43.00 and set an "overweight" rating for the company in a research note on Tuesday, March 24th. HC Wainwright reissued a "neutral" rating and set a $43.00 target price on shares of Alkermes in a research note on Thursday, February 26th. Finally, Truist Financial raised Alkermes to a "strong-buy" rating in a research note on Wednesday, March 25th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Alkermes presently has an average rating of "Moderate Buy" and a consensus price target of $45.40.

Insider Activity

In other news, EVP Craig C. Hopkinson sold 9,000 shares of the business's stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $33.40, for a total value of $300,600.00. Following the completion of the sale, the executive vice president directly owned 81,389 shares of the company's stock, valued at approximately $2,718,392.60. The trade was a 9.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 the business's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $33.20, for a total value of $67,528.80. Following the completion of the sale, the executive vice president directly owned 231,558 shares of the company's stock, valued at $7,687,725.60. The trade was a 0.87% 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. In the last three months, insiders sold 39,102 shares of company stock valued at $1,265,090. Insiders own 4.59% of the company's stock.

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.

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