Fisher Asset Management LLC Buys 67,745 Shares of Alkermes plc $ALKS

Key Points

• Fisher Asset Management increased its Alkermes stake by 21% in the fourth quarter, buying 67,745 additional shares and bringing its total holding to 390,493 shares worth about $10.9 million.
• Institutional ownership of Alkermes remains very high, with 95.21% of shares held by institutional investors. Several other funds also boosted their positions recently, including American Century, Victory Capital, and Artisan Partners.
• Alkermes shares were trading near their 52-week high at $38.09, while analysts currently rate the stock Moderate Buy on average with a consensus price target of $45.40.

Fisher Asset Management LLC raised its stake in Alkermes plc (NASDAQ:ALKS - Free Report) by 21.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 390,493 shares of the company's stock after acquiring an additional 67,745 shares during the period. Fisher Asset Management LLC owned about 0.24% of Alkermes worth $10,926,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. American Century Companies Inc. grew its position in Alkermes by 20.2% in the third quarter. American Century Companies Inc. now owns 4,397,471 shares of the company's stock valued at $131,924,000 after acquiring an additional 740,248 shares during the period. Victory Capital Management Inc. grew its position in Alkermes by 43.1% in the third quarter. Victory Capital Management Inc. now owns 344,202 shares of the company's stock valued at $10,326,000 after acquiring an additional 103,749 shares during the period. Public Sector Pension Investment Board grew its position in Alkermes by 11.6% in the third quarter. Public Sector Pension Investment Board now owns 710,700 shares of the company's stock valued at $21,321,000 after acquiring an additional 73,787 shares during the period. Tudor Investment Corp ET AL bought a new stake in Alkermes in the third quarter valued at $1,691,000. Finally, Artisan Partners Limited Partnership grew its position 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 acquiring an additional 567,965 shares during the period. 95.21% of the stock is currently owned by institutional investors.

Alkermes Price Performance

Shares of ALKS stock opened at $38.09 on Thursday. The stock's fifty day moving average is $33.95 and its 200-day moving average is $31.68. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.70 and a current ratio of 2.27. The stock has a market capitalization of $6.35 billion, a PE ratio of 42.32 and a beta of 0.31. Alkermes plc has a 52 week low of $25.17 and a 52 week high of $39.56.

Alkermes (NASDAQ:ALKS - Get Free Report) last announced its earnings results on Saturday, February 14th. The company reported $0.29 EPS for the quarter. The company 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%. Equities research analysts expect that Alkermes plc will post -0.43 EPS for the current fiscal year.

Insider Transactions at Alkermes

In other news, EVP Craig C. Hopkinson sold 9,000 shares of the company's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $33.40, for a total transaction of $300,600.00. Following the transaction, the executive vice president owned 81,389 shares of the company's stock, valued at $2,718,392.60. This represents a 9.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through 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 on Monday, March 2nd. The shares were sold at an average price of $30.00, for a total value of $180,000.00. Following the transaction, the senior vice president directly owned 109,769 shares in the company, valued at $3,293,070. This trade represents a 5.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 39,102 shares of company stock worth $1,265,090. Insiders own 4.59% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Robert W. Baird upped their price target on Alkermes from $45.00 to $48.00 and gave the company an "outperform" rating in a research report on Wednesday, May 13th. 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. HC Wainwright restated a "neutral" rating and set a $43.00 target price on shares of Alkermes in a report on Thursday, February 26th. Wall Street Zen cut Alkermes from a "buy" rating to a "hold" rating in a report on Saturday, February 28th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $45.40.

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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