Pacer Advisors Inc. Sells 133,258 Shares of Alkermes plc $ALKS

Key Points

• Pacer Advisors Inc. reduced its stake in Alkermes by 16.5% in the fourth quarter, selling 133,258 shares and ending with 674,874 shares valued at about $18.9 million.
• Alkermes posted solid recent financial results, reporting $0.29 EPS and $384.55 million in quarterly revenue, while shares recently traded near their 52-week high of $45.76.
• Analysts remain cautiously positive overall, with a consensus rating of “Moderate Buy” and an average target price of $46.40, even as some firms adjusted ratings and price targets.

Pacer Advisors Inc. lessened its position in Alkermes plc (NASDAQ:ALKS - Free Report) by 16.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 674,874 shares of the company's stock after selling 133,258 shares during the period. Pacer Advisors Inc. owned approximately 0.41% of Alkermes worth $18,883,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Royal Bank of Canada lifted its holdings in shares of Alkermes by 117.2% in the 1st quarter. Royal Bank of Canada now owns 275,526 shares of the company's stock worth $9,098,000 after purchasing an additional 148,696 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Alkermes in the 1st quarter valued at $213,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Alkermes by 4.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 482,332 shares of the company's stock valued at $15,927,000 after purchasing an additional 20,091 shares in the last quarter. Cetera Investment Advisers increased its stake in Alkermes by 32.3% during the 2nd quarter. Cetera Investment Advisers now owns 13,907 shares of the company's stock valued at $398,000 after purchasing an additional 3,394 shares in the last quarter. Finally, Quantbot Technologies LP raised its holdings in Alkermes by 539.4% during the second quarter. Quantbot Technologies LP now owns 6,976 shares of the company's stock worth $200,000 after buying an additional 5,885 shares during the last quarter. Institutional investors own 95.21% of the company's stock.

Alkermes Price Performance

Shares of NASDAQ:ALKS opened at $44.99 on Friday. The company has a current ratio of 2.27, a quick ratio of 1.70 and a debt-to-equity ratio of 0.85. The stock has a market cap of $7.50 billion, a PE ratio of 49.99 and a beta of 0.38. The stock's fifty day simple moving average is $38.13 and its two-hundred day simple moving average is $33.25. Alkermes plc has a 1-year low of $25.17 and a 1-year high of $45.76.

Alkermes (NASDAQ:ALKS - Get Free Report) last posted its earnings results on Saturday, February 14th. The company reported $0.29 earnings per share (EPS) for the quarter. The firm had revenue of $384.55 million during the quarter. Alkermes had a net margin of 9.78% and a return on equity of 9.26%. As a group, analysts forecast that Alkermes plc will post -0.43 EPS for the current fiscal year.

Analyst Ratings Changes

ALKS has been the subject of a number of analyst reports. Zacks Research upgraded shares of Alkermes from a "strong sell" rating to a "hold" rating in a report on Monday, April 27th. Needham & Company LLC upped their target price on shares of Alkermes from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Thursday. Wall Street Zen cut shares of Alkermes from a "buy" rating to a "hold" rating in a research report on Saturday, February 28th. UBS Group lifted their price target on Alkermes from $42.00 to $48.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Finally, Piper Sandler decreased their price objective on Alkermes from $45.00 to $43.00 and set an "overweight" rating for the company in a report on Tuesday, March 24th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $46.40.

Insider Buying and Selling

In other Alkermes news, Director Christopher I. Wright sold 2,000 shares of Alkermes stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $45.10, for a total transaction of $90,200.00. Following the transaction, the director owned 25,680 shares of the company's stock, valued at $1,158,168. This trade represents a 7.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Craig C. Hopkinson sold 9,000 shares of the business's stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $35.51, for a total value of $319,590.00. Following the completion of the transaction, the executive vice president owned 85,389 shares in the company, valued at $3,032,163.39. The trade was a 9.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 35,102 shares of company stock worth $1,310,828. 4.59% of the stock is owned by insiders.

Alkermes 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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