Horizon Investments LLC Has $92,000 Stock Position in Alkermes plc $ALKS

Key Points

• Horizon Investments LLC cut its Alkermes stake by 92.3% in the fourth quarter, ending with 3,296 shares worth about $92,000.
• Despite that sale, Alkermes remains heavily owned by institutions and hedge funds, which collectively hold about 95.21% of the company’s stock.
• Alkermes recently reported Q earnings of $0.29 per share on revenue of $384.55 million, while analysts maintain a Moderate Buy consensus with a target price of about $45.21.

Horizon Investments LLC decreased its stake in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 92.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,296 shares of the company's stock after selling 39,706 shares during the quarter. Horizon Investments LLC's holdings in Alkermes were worth $92,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ALKS. State Street Corp boosted its stake in shares of Alkermes by 2.3% during the 2nd quarter. State Street Corp now owns 8,208,256 shares of the company's stock worth $234,838,000 after acquiring an additional 185,586 shares during the period. Baker BROS. Advisors LP boosted its stake in shares of Alkermes by 26.2% during the 3rd quarter. Baker BROS. Advisors LP now owns 8,091,351 shares of the company's stock worth $242,741,000 after acquiring an additional 1,680,748 shares during the period. American Century Companies Inc. boosted its stake 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 worth $131,924,000 after acquiring an additional 740,248 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Alkermes by 19.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,697,996 shares of the company's stock worth $110,925,000 after acquiring an additional 601,359 shares during the period. Finally, Commodore Capital LP boosted its stake in shares of Alkermes by 26.4% during the 3rd quarter. Commodore Capital LP now owns 3,096,754 shares of the company's stock worth $92,903,000 after acquiring an additional 646,754 shares during the period. Institutional investors and hedge funds own 95.21% of the company's stock.

Alkermes Price Performance

Shares of NASDAQ ALKS opened at $34.99 on Monday. The stock has a market capitalization of $5.83 billion, a PE ratio of 38.88 and a beta of 0.31. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.27 and a quick ratio of 1.70. The business has a fifty day moving average price of $31.63 and a two-hundred day moving average price of $31.04. Alkermes plc has a fifty-two week low of $25.17 and a fifty-two week high of $36.60.

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

Insider Transactions at Alkermes

In other news, SVP Christian Todd Nichols sold 6,000 shares of the business's stock in a transaction on 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 transaction, the senior vice president owned 109,769 shares of the company's stock, valued at approximately $3,293,070. The trade was a 5.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Craig C. Hopkinson sold 9,000 shares of the business's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $33.40, for a total value of $300,600.00. Following the transaction, the executive vice president directly owned 81,389 shares of the company's stock, valued at $2,718,392.60. This trade represents a 9.96% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 39,102 shares of company stock valued at $1,265,090. Corporate insiders own 4.59% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Truist Financial upgraded Alkermes to a "strong-buy" rating in a research note on Wednesday, March 25th. Piper Sandler reduced their target price on Alkermes from $45.00 to $43.00 and set an "overweight" rating for the company in a research note on Tuesday, March 24th. Wolfe Research assumed coverage on Alkermes in a research note on Monday, February 23rd. They set an "outperform" rating and a $45.00 target price for the company. Royal Bank Of Canada reduced their target price on Alkermes from $47.00 to $45.00 and set an "outperform" rating for the company in a research note on Thursday, February 26th. Finally, Bank of America lifted their target price on Alkermes from $34.00 to $36.00 and gave the stock a "neutral" rating in a research note on Thursday, April 9th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $45.21.

About Alkermes

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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