GAMMA Investing LLC Boosts Stake in Alkermes plc (NASDAQ:ALKS)

GAMMA Investing LLC boosted its stake in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 4,255.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 178,176 shares of the company's stock after purchasing an additional 174,085 shares during the quarter. GAMMA Investing LLC owned about 0.11% of Alkermes worth $5,396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC bought a new stake in shares of Alkermes in the 4th quarter valued at about $25,000. EverSource Wealth Advisors LLC lifted its position in Alkermes by 106.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,635 shares of the company's stock valued at $47,000 after acquiring an additional 842 shares during the last quarter. Blue Trust Inc. boosted its stake in Alkermes by 2,231.5% in the fourth quarter. Blue Trust Inc. now owns 1,702 shares of the company's stock valued at $49,000 after acquiring an additional 1,629 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in Alkermes by 558.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,950 shares of the company's stock worth $85,000 after purchasing an additional 2,502 shares during the last quarter. Finally, GF Fund Management CO. LTD. purchased a new position in Alkermes in the fourth quarter worth $98,000. Institutional investors own 95.21% of the company's stock.

Alkermes Stock Down 1.1%

Shares of NASDAQ:ALKS traded down $0.35 during midday trading on Thursday, reaching $30.85. The company's stock had a trading volume of 833,009 shares, compared to its average volume of 1,693,276. The stock has a fifty day moving average of $29.60 and a 200 day moving average of $31.01. Alkermes plc has a twelve month low of $22.90 and a twelve month high of $36.45. The firm has a market capitalization of $5.09 billion, a PE ratio of 14.22, a P/E/G ratio of 2.20 and a beta of 0.47.

Alkermes (NASDAQ:ALKS - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.19). The company had revenue of $306.51 million for the quarter, compared to analyst estimates of $307.53 million. Alkermes had a return on equity of 30.80% and a net margin of 23.57%. Alkermes's revenue for the quarter was down 12.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.43 earnings per share. Sell-side analysts anticipate that Alkermes plc will post 1.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Alkermes news, SVP Christian Todd Nichols sold 3,334 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $31.09, for a total value of $103,654.06. Following the sale, the senior vice president now owns 86,208 shares in the company, valued at approximately $2,680,206.72. This represents a 3.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 4.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Robert W. Baird raised their price objective on Alkermes from $38.00 to $41.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Wall Street Zen cut Alkermes from a "strong-buy" rating to a "buy" rating in a research note on Monday, May 5th. HC Wainwright restated a "neutral" rating on shares of Alkermes in a research note on Friday, May 2nd. UBS Group restated a "sector perform" rating on shares of Alkermes in a report on Monday, April 28th. Finally, The Goldman Sachs Group lifted their target price on shares of Alkermes from $30.00 to $32.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Alkermes has an average rating of "Moderate Buy" and an average target price of $38.85.

Alkermes Profile

Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in therapeutic areas in the United States, Ireland, and internationally. It has a portfolio of proprietary commercial products for the treatment of alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder and a pipeline of clinical and preclinical product candidates in development for neurological disorders.