Alkermes plc $ALKS Shares Bought by Entropy Technologies LP

Key Points

• Entropy Technologies LP increased its Alkermes stake by 173.6% in the fourth quarter, and several other institutional investors also boosted holdings, with institutional ownership now at 95.21%.
• Analysts remain largely positive on ALKS: Royal Bank of Canada, Wells Fargo, and Robert W. Baird all raised price targets, and the stock carries a consensus Moderate Buy rating with an average target of $46.13.
• Insider activity was mixed to negative, as Director Christopher I. Wright and EVP Craig C. Hopkinson sold shares, while the stock recently traded near its 52-week high at $44.36 versus a high of $45.76.

Entropy Technologies LP raised its position in Alkermes plc (NASDAQ:ALKS - Free Report) by 173.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,724 shares of the company's stock after acquiring an additional 40,433 shares during the period. Entropy Technologies LP's holdings in Alkermes were worth $1,783,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of ALKS. Royal Bank of Canada boosted its stake in Alkermes by 117.2% in the first quarter. Royal Bank of Canada now owns 275,526 shares of the company's stock valued at $9,098,000 after acquiring an additional 148,696 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Alkermes in the first quarter valued at approximately $213,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Alkermes by 4.3% in the first 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 acquiring an additional 20,091 shares in the last quarter. Cetera Investment Advisers boosted its stake in Alkermes by 32.3% in the second quarter. Cetera Investment Advisers now owns 13,907 shares of the company's stock valued at $398,000 after acquiring an additional 3,394 shares in the last quarter. Finally, Quantbot Technologies LP boosted its stake in Alkermes by 539.4% in the second quarter. Quantbot Technologies LP now owns 6,976 shares of the company's stock valued at $200,000 after acquiring an additional 5,885 shares in the last quarter. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ALKS shares. Royal Bank Of Canada raised their target price on shares of Alkermes from $45.00 to $56.00 and gave the company an "outperform" rating in a research note on Tuesday, June 9th. Wells Fargo & Company lifted their price objective on shares of Alkermes from $43.00 to $44.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 6th. Robert W. Baird lifted their price objective on shares of Alkermes from $45.00 to $48.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 13th. Weiss Ratings downgraded shares of Alkermes from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, May 11th. Finally, HC Wainwright reiterated a "neutral" rating and set a $43.00 price objective on shares of Alkermes in a research note on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $46.13.

Insider Activity at Alkermes

In related news, Director Christopher I. Wright sold 2,000 shares of the business's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $45.10, for a total transaction of $90,200.00. Following the completion of the transaction, the director directly owned 25,680 shares in the company, valued at $1,158,168. The trade was a 7.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Craig C. Hopkinson sold 9,000 shares of the business's stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $35.51, for a total transaction of $319,590.00. Following the transaction, the executive vice president owned 85,389 shares of the company's stock, valued at $3,032,163.39. This represents a 9.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 35,102 shares of company stock worth $1,310,828 over the last three months. Company insiders own 4.59% of the company's stock.

Alkermes Trading Up 0.2%

NASDAQ:ALKS opened at $44.36 on Tuesday. Alkermes plc has a 12 month low of $25.17 and a 12 month high of $45.76. The firm has a fifty day simple moving average of $37.29 and a 200-day simple moving average of $32.85. 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 capitalization of $7.39 billion, a P/E ratio of 49.29 and a beta of 0.38.

Alkermes (NASDAQ:ALKS - Get Free Report) last posted its earnings results on Saturday, February 14th. The company reported $0.29 earnings per share (EPS) for the quarter. The company 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, equities research analysts anticipate that Alkermes plc will post -0.43 earnings per share for the current year.

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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