Amundi Increases Stake in Alkermes plc $ALKS

Key Points

• Amundi nearly doubled its Alkermes stake in the first quarter, purchasing 32,327 additional shares to hold 64,710 shares valued at approximately $2.29 million. Institutional investors collectively own 95.21% of ALKS.
• ALKS opened at $48.37, with shares trading between a 52-week low of $25.17 and high of $55.67. Analysts maintain a “Moderate Buy” consensus with an average price target of $54.56, although ratings range from “Strong Buy” to “Sell.”
• Alkermes insiders have sold 79,574 shares worth about $3.9 million over the past 90 days, including two executive sales conducted under pre-arranged Rule 10b5-1 trading plans.

Amundi lifted its holdings in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 99.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 64,710 shares of the company's stock after purchasing an additional 32,327 shares during the period. Amundi's holdings in Alkermes were worth $2,288,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in ALKS. Cullen Frost Bankers Inc. bought a new stake in shares of Alkermes in the 4th quarter valued at about $28,000. Johnson Financial Group Inc. purchased a new stake in Alkermes during the 3rd quarter valued at about $31,000. UMB Bank n.a. grew its position in Alkermes by 57.6% during the 4th quarter. UMB Bank n.a. now owns 1,220 shares of the company's stock worth $34,000 after acquiring an additional 446 shares during the last quarter. Salomon & Ludwin LLC grew its position in Alkermes by 115.6% during the 4th quarter. Salomon & Ludwin LLC now owns 1,244 shares of the company's stock worth $35,000 after acquiring an additional 667 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in Alkermes by 1,041.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,324 shares of the company's stock worth $37,000 after acquiring an additional 1,208 shares during the last quarter. Hedge funds and other institutional investors own 95.21% of the company's stock.

Alkermes Price Performance

ALKS stock opened at $48.37 on Friday. 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 $25.17 and a 1 year high of $55.67. The firm has a 50-day moving average of $49.14 and a 200 day moving average of $38.76. The company has a market cap of $8.11 billion, a P/E ratio of 127.29 and a beta of 0.34.

Wall Street Analyst Weigh In

Several analysts have weighed in on ALKS shares. TD Cowen boosted their price objective on Alkermes from $42.00 to $50.00 and gave the company a "buy" rating in a research report on Monday, June 22nd. Zacks Research upgraded shares of Alkermes from a "strong sell" rating to a "hold" rating in a 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 research note on Monday, July 20th. HC Wainwright reaffirmed a "neutral" rating on shares of Alkermes in a research note on Thursday, July 30th. Finally, Bank of America reiterated an "underperform" rating on shares of Alkermes in a report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Alkermes has an average rating of "Moderate Buy" and an average price target of $54.56.

Insider Transactions at Alkermes

In other Alkermes news, EVP David Joseph Gaffin sold 2,034 shares of the stock in a transaction 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 transaction, the executive vice president owned 225,456 shares in the company, valued at approximately $10,952,652.48. This represents a 0.89% 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 firm's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $48.58, for a total value of $437,220.00. Following the transaction, the executive vice president directly owned 69,389 shares of the company's stock, valued at $3,370,917.62. This represents a 11.48% 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 have sold 79,574 shares of company stock valued at $3,901,478. Company insiders own 4.59% of the company's stock.

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.

Want to see what other hedge funds are holding ALKS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alkermes plc (NASDAQ:ALKS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source