Profund Advisors LLC Has $2.26 Million Stock Position in Alkermes plc $ALKS

Key Points

• Profund Advisors LLC increased its stake in Alkermes by 80.9% in the fourth quarter, bringing its holdings to 80,624 shares worth about $2.26 million.
• Analyst sentiment remains mostly positive: UBS raised its price target to $48 and multiple firms have buy ratings, giving Alkermes an overall Moderate Buy consensus with an average target of $45.40.
• Insiders have been selling shares recently, including two EVP transactions in May, while Alkermes reported $0.29 EPS and $384.55 million in quarterly revenue in its latest earnings release.

Profund Advisors LLC lifted its stake in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 80.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 80,624 shares of the company's stock after purchasing an additional 36,067 shares during the quarter. Profund Advisors LLC's holdings in Alkermes were worth $2,256,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ALKS. Assetmark Inc. grew its holdings in shares of Alkermes by 933.8% during the 3rd quarter. Assetmark Inc. now owns 827 shares of the company's stock worth $25,000 after purchasing an additional 747 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of Alkermes during the 3rd quarter worth $31,000. Salomon & Ludwin LLC grew its holdings in shares of Alkermes by 115.6% during the 4th quarter. Salomon & Ludwin LLC now owns 1,244 shares of the company's stock worth $35,000 after purchasing an additional 667 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in shares of Alkermes by 395.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,239 shares of the company's stock worth $37,000 after purchasing an additional 989 shares in the last quarter. Finally, Osaic Holdings Inc. grew its holdings in shares of Alkermes by 56.4% during the 2nd quarter. Osaic Holdings Inc. now owns 1,945 shares of the company's stock worth $56,000 after purchasing an additional 701 shares in the last quarter. 95.21% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Wall Street Zen lowered Alkermes from a "buy" rating to a "hold" rating in a research note on Saturday, February 28th. Truist Financial upgraded Alkermes to a "strong-buy" rating in a research note on Wednesday, March 25th. Zacks Research upgraded Alkermes from a "strong sell" rating to a "hold" rating in a research note on Monday, April 27th. 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, Bank of America lifted their price target on Alkermes from $34.00 to $36.00 and gave the company a "neutral" rating in a research note on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $45.40.

Insider Buying and Selling

In related news, EVP David Joseph Gaffin sold 2,034 shares of the business's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $33.20, for a total transaction of $67,528.80. Following the sale, the executive vice president owned 231,558 shares in the company, valued at $7,687,725.60. The trade was a 0.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 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 sale, the executive vice president owned 81,389 shares in the company, valued at $2,718,392.60. This represents a 9.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 39,102 shares of company stock worth $1,265,090 in the last 90 days. Insiders own 4.59% of the company's stock.

Alkermes Trading Down 0.5%

Shares of ALKS opened at $37.00 on Wednesday. Alkermes plc has a 52-week low of $25.17 and a 52-week high of $39.56. The business's fifty day moving average is $32.83 and its 200-day moving average is $31.41. 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 firm has a market cap of $6.17 billion, a price-to-earnings ratio of 41.11 and a beta of 0.31.

Alkermes (NASDAQ:ALKS - Get Free Report) last issued its quarterly earnings data on Saturday, February 14th. The company reported $0.29 earnings per share for the quarter. The business 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 analysts anticipate that Alkermes plc will post -0.42 EPS for the current fiscal year.

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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