Dimensional Fund Advisors LP Purchases 109,595 Shares of Alkermes plc $ALKS

Key Points

• Dimensional Fund Advisors increased its Alkermes stake by 2.5%, acquiring 109,595 shares to own 4.52 million shares worth approximately $159.9 million, or 2.72% of the company. Institutional investors collectively own 95.21% of Alkermes.
• Analysts remain broadly positive, with Alkermes holding a “Moderate Buy” consensus rating and an average price target of $52.50. Several firms recently raised their targets, including RBC to $56 and Needham to $62.
• Alkermes shares opened at $52.89, near their 52-week high of $55.67, after rising above both their 50-day and 200-day moving averages. Meanwhile, insiders have sold 35,102 shares worth about $1.49 million over the past 90 days, primarily through pre-arranged trading plans.

Dimensional Fund Advisors LP raised its holdings in Alkermes plc (NASDAQ:ALKS - Free Report) by 2.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 4,522,378 shares of the company's stock after acquiring an additional 109,595 shares during the quarter. Dimensional Fund Advisors LP owned approximately 2.72% of Alkermes worth $159,850,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Cullen Frost Bankers Inc. acquired a new position in shares of Alkermes in the 4th quarter worth approximately $28,000. Johnson Financial Group Inc. acquired a new position in Alkermes in the third quarter valued at approximately $31,000. UMB Bank n.a. boosted its holdings in shares of 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 buying an additional 446 shares in the last quarter. Salomon & Ludwin LLC boosted its holdings in shares of 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 buying an additional 667 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of 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 buying an additional 1,208 shares during the period. 95.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Royal Bank Of Canada boosted their target price on shares of Alkermes from $45.00 to $56.00 and gave the company an "outperform" rating in a research report on Tuesday, June 9th. Needham & Company LLC raised their price target on shares of Alkermes from $61.00 to $62.00 and gave the stock a "buy" rating in a report on Monday, July 13th. Zacks Research raised shares of Alkermes from a "strong sell" rating to a "hold" rating in a research note on Monday, April 27th. Robert W. Baird upped their price objective on shares of Alkermes from $45.00 to $48.00 and gave the company an "outperform" rating in a report on Wednesday, May 13th. Finally, TD Cowen increased their price objective on shares of Alkermes from $42.00 to $50.00 and gave the stock a "buy" rating in a research report on Monday, June 22nd. One 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 given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $52.50.

Alkermes Stock Performance

Shares of Alkermes stock opened at $52.89 on Monday. The company has a market cap of $8.82 billion, a PE ratio of 58.77 and a beta of 0.34. The business has a 50 day moving average price of $46.92 and a 200-day moving average price of $37.50. Alkermes plc has a 52 week low of $25.17 and a 52 week high of $55.67. The company has a quick ratio of 1.70, a current ratio of 2.27 and a debt-to-equity ratio of 0.85.

Insider Activity at Alkermes

In related news, Director Christopher I. Wright sold 2,000 shares of Alkermes stock in a transaction on Friday, June 12th. The stock was sold at an average price of $45.10, for a total transaction of $90,200.00. Following the sale, the director directly owned 25,680 shares in the company, valued at approximately $1,158,168. This trade represents a 7.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 Thursday, June 4th. The stock was sold at an average price of $43.05, for a total transaction of $87,563.70. Following the completion of the transaction, the executive vice president directly owned 229,524 shares in the company, valued at $9,881,008.20. This trade represents a 0.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 35,102 shares of company stock valued at $1,494,410 over the last ninety days. Corporate 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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