Baker BROS. Advisors LP Has $280.14 Million Position in Alkermes plc $ALKS

Key Points

• Baker BROS. Advisors increased its Alkermes stake by 23.7% in Q4, ending with 10.0 million shares worth about $280.1 million, or roughly 6.06% of the company.
• Alkermes reported quarterly EPS of $0.29 on revenue of $384.55 million, while analysts still expect the company to post a full-year loss of $0.43 per share.
• Insiders have been selling shares recently, including an EVP and a director, and Wall Street currently rates the stock Moderate Buy with an average target price of $46.13.

Baker BROS. Advisors LP boosted its stake in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 23.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,012,267 shares of the company's stock after acquiring an additional 1,920,916 shares during the quarter. Alkermes accounts for 1.6% of Baker BROS. Advisors LP's portfolio, making the stock its 13th largest position. Baker BROS. Advisors LP owned about 6.06% of Alkermes worth $280,143,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in ALKS. Assetmark Inc. grew its holdings in shares of Alkermes by 933.8% during the third quarter. Assetmark Inc. now owns 827 shares of the company's stock worth $25,000 after purchasing an additional 747 shares during the last quarter. Cullen Frost Bankers Inc. bought a new stake in shares of Alkermes during the fourth quarter worth $28,000. Johnson Financial Group Inc. bought a new stake in shares of Alkermes during the third quarter worth $31,000. UMB Bank n.a. grew its holdings in shares of Alkermes by 57.6% during the fourth quarter. UMB Bank n.a. now owns 1,220 shares of the company's stock worth $34,000 after purchasing an additional 446 shares during the last quarter. Finally, Salomon & Ludwin LLC grew its holdings in shares of Alkermes by 115.6% during the fourth quarter. Salomon & Ludwin LLC now owns 1,244 shares of the company's stock worth $35,000 after purchasing an additional 667 shares during the last quarter. Institutional investors own 95.21% of the company's stock.

Alkermes Price Performance

Alkermes stock opened at $44.51 on Thursday. The business's 50-day simple moving average is $37.68 and its 200 day simple moving average is $33.06. The stock has a market cap of $7.42 billion, a price-to-earnings ratio of 49.46 and a beta of 0.38. Alkermes plc has a 12-month low of $25.17 and a 12-month high of $45.76. The company has a quick ratio of 1.70, a current ratio of 2.27 and a debt-to-equity ratio of 0.85.

Alkermes (NASDAQ:ALKS - Get Free Report) last posted its quarterly earnings results on Saturday, February 14th. The company reported $0.29 earnings per share (EPS) for the quarter. The business had revenue of $384.55 million for the quarter. Alkermes had a return on equity of 9.26% and a net margin of 9.78%. As a group, research analysts anticipate that Alkermes plc will post -0.43 earnings per share for the current year.

Insider Activity at Alkermes

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

Analysts Set New Price Targets

Several brokerages have recently commented on ALKS. Weiss Ratings cut Alkermes from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, May 11th. Bank of America increased their target price on Alkermes from $34.00 to $36.00 and gave the stock a "neutral" rating in a report on Thursday, April 9th. Zacks Research upgraded Alkermes from a "strong sell" rating to a "hold" rating in a report on Monday, April 27th. HC Wainwright restated a "neutral" rating and set a $43.00 target price on shares of Alkermes in a report on Thursday, February 26th. Finally, Piper Sandler decreased their target price on Alkermes from $45.00 to $43.00 and set an "overweight" rating on the stock in a report on Tuesday, March 24th. One 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's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $46.13.

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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