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

GAMMA Investing LLC lifted its holdings in 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 & Exchange Commission. 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 0.11% of Alkermes worth $5,396,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. RTW Investments LP lifted its position in shares of Alkermes by 13.6% in the fourth quarter. RTW Investments LP now owns 7,557,835 shares of the company's stock worth $217,363,000 after purchasing an additional 903,802 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Alkermes by 1.1% in the fourth quarter. Renaissance Technologies LLC now owns 5,478,728 shares of the company's stock worth $157,568,000 after purchasing an additional 57,697 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Alkermes by 6.5% in the fourth quarter. American Century Companies Inc. now owns 3,450,707 shares of the company's stock worth $99,242,000 after purchasing an additional 209,740 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Alkermes by 4.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,019,508 shares of the company's stock worth $86,842,000 after purchasing an additional 128,701 shares in the last quarter. Finally, Avoro Capital Advisors LLC bought a new stake in Alkermes during the fourth quarter worth $70,462,000. Institutional investors own 95.21% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on ALKS. HC Wainwright reaffirmed a "neutral" rating on shares of Alkermes in a research report on Friday, May 2nd. UBS Group reaffirmed a "sector perform" rating on shares of Alkermes in a research report on Monday, April 28th. Cantor Fitzgerald raised shares of Alkermes to a "strong-buy" rating in a research report on Tuesday, May 13th. Needham & Company LLC started coverage on shares of Alkermes in a research report on Wednesday, May 28th. They set a "buy" rating and a $45.00 price target on the stock. Finally, Robert W. Baird increased their price objective on shares of Alkermes from $38.00 to $41.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.85.

Insider Activity at Alkermes

In other Alkermes news, SVP Christian Todd Nichols sold 3,333 shares of Alkermes stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $31.95, for a total transaction of $106,489.35. Following the transaction, the senior vice president now directly owns 89,542 shares of the company's stock, valued at approximately $2,860,866.90. This trade represents a 3.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.40% of the stock is currently owned by insiders.

Alkermes Stock Performance

NASDAQ ALKS traded down $0.95 during trading on Friday, hitting $29.83. 2,207,105 shares of the company's stock traded hands, compared to its average volume of 1,734,585. The stock has a market capitalization of $4.92 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 2.20 and a beta of 0.47. Alkermes plc has a 12-month low of $22.90 and a 12-month high of $36.45. The business has a 50 day moving average of $29.63 and a 200-day moving average of $31.02.

Alkermes (NASDAQ:ALKS - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.32 by ($0.19). Alkermes had a net margin of 23.57% and a return on equity of 30.80%. The firm had revenue of $306.51 million during the quarter, compared to the consensus estimate of $307.53 million. During the same quarter last year, the business posted $0.43 earnings per share. Alkermes's revenue was down 12.6% compared to the same quarter last year. On average, analysts expect that Alkermes plc will post 1.31 EPS for the current year.

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.