Danske Bank A S Sells 32,271 Shares of Alkermes plc $ALKS

Key Points

• Danske Bank A S cut its Alkermes stake by 96.4% in the fourth quarter, selling 32,271 shares and leaving it with just 1,200 shares worth about $34,000.
• Other institutional investors were mixed on the stock, with several firms increasing holdings; overall, 95.21% of Alkermes shares are owned by institutions.
• Insiders also sold shares recently, including EVP Craig C. Hopkinson and SVP Christian Todd Nichols, while Wall Street analysts currently rate Alkermes Moderate Buy with a consensus target price of $45.21.

Danske Bank A S lowered its position in Alkermes plc (NASDAQ:ALKS - Free Report) by 96.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,200 shares of the company's stock after selling 32,271 shares during the period. Danske Bank A S's holdings in Alkermes were worth $34,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of ALKS. American Century Companies Inc. boosted its position in shares of Alkermes by 20.2% during the 3rd quarter. American Century Companies Inc. now owns 4,397,471 shares of the company's stock valued at $131,924,000 after purchasing an additional 740,248 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Alkermes by 43.1% in the third quarter. Victory Capital Management Inc. now owns 344,202 shares of the company's stock worth $10,326,000 after purchasing an additional 103,749 shares in the last quarter. Public Sector Pension Investment Board increased its holdings in Alkermes by 11.6% in the third quarter. Public Sector Pension Investment Board now owns 710,700 shares of the company's stock worth $21,321,000 after purchasing an additional 73,787 shares in the last quarter. Tudor Investment Corp ET AL acquired a new position in Alkermes in the third quarter valued at approximately $1,691,000. Finally, Artisan Partners Limited Partnership lifted its stake in Alkermes by 36.8% in the third quarter. Artisan Partners Limited Partnership now owns 2,109,772 shares of the company's stock valued at $63,293,000 after buying an additional 567,965 shares during the period. 95.21% of the stock is owned by institutional investors.

Insider Transactions at Alkermes

In other news, EVP Craig C. Hopkinson sold 9,000 shares of the business's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $33.40, for a total transaction 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 $2,718,392.60. The trade was a 9.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Christian Todd Nichols sold 6,000 shares of the company's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $30.00, for a total transaction of $180,000.00. Following the completion of the sale, the senior vice president owned 109,769 shares in the company, valued at $3,293,070. This represents a 5.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 39,102 shares of company stock valued at $1,265,090 over the last three months. Corporate insiders own 4.59% of the company's stock.

Alkermes Price Performance

Shares of ALKS opened at $34.99 on Friday. The business's fifty day moving average is $31.63 and its 200 day moving average is $31.04. Alkermes plc has a 12-month low of $25.17 and a 12-month high of $36.60. The company has a quick ratio of 3.19, a current ratio of 2.27 and a debt-to-equity ratio of 0.85. The stock has a market cap of $5.83 billion, a P/E ratio of 38.88 and a beta of 0.31.

Alkermes (NASDAQ:ALKS - Get Free Report) last announced its quarterly earnings results on Saturday, February 14th. The company reported $0.29 EPS for the quarter. Alkermes had a net margin of 9.78% and a return on equity of 9.26%. The business had revenue of $384.55 million during the quarter. Sell-side analysts anticipate that Alkermes plc will post -0.62 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ALKS has been the subject of several recent analyst reports. Needham & Company LLC raised their price objective on shares of Alkermes from $45.00 to $50.00 and gave the stock a "buy" rating in a research report on Wednesday. Wells Fargo & Company boosted their target price on shares of Alkermes from $43.00 to $44.00 and gave the company an "overweight" rating in a research report on Wednesday. Truist Financial raised shares of Alkermes to a "strong-buy" rating in a research note on Wednesday, March 25th. Piper Sandler reduced their price target on shares of Alkermes from $45.00 to $43.00 and set an "overweight" rating for the company in a report on Tuesday, March 24th. Finally, Wolfe Research began coverage on shares of Alkermes in a research note on Monday, February 23rd. They issued an "outperform" rating and a $45.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Alkermes currently has a consensus rating of "Moderate Buy" and a consensus target price of $45.21.

Alkermes 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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