Tudor Investment Corp ET AL Takes Position in Alkermes plc $ALKS

Key Points

• Tudor Investment Corp established a new stake in Alkermes, acquiring 56,383 shares worth about $1.69 million in Q3, and institutional investors now own roughly 95.21% of the stock.
• Insider selling has been notable: insiders sold 159,468 shares valued at $5.43 million in the past 90 days, including Director Shane Cooke's 61,200‑share sale, leaving insiders with 4.40% ownership.
• Alkermes missed Q2 earnings with $0.29 EPS vs. $0.43 expected and revenue down 10.6% year‑over‑year, yet analysts' consensus remains a “Moderate Buy” with an average target of $44.07.

Tudor Investment Corp ET AL acquired a new position in shares of Alkermes plc (NASDAQ:ALKS - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 56,383 shares of the company's stock, valued at approximately $1,691,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Orion Porfolio Solutions LLC increased its position in Alkermes by 4.5% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 8,762 shares of the company's stock worth $263,000 after purchasing an additional 376 shares in the last quarter. Horizon Investments LLC increased its position in Alkermes by 0.9% during the 3rd quarter. Horizon Investments LLC now owns 43,002 shares of the company's stock worth $1,290,000 after purchasing an additional 387 shares in the last quarter. AMG National Trust Bank increased its position in Alkermes by 0.6% during the 3rd quarter. AMG National Trust Bank now owns 60,175 shares of the company's stock worth $1,805,000 after purchasing an additional 388 shares in the last quarter. Tidal Investments LLC increased its position in Alkermes by 1.1% during the 2nd quarter. Tidal Investments LLC now owns 35,130 shares of the company's stock worth $1,005,000 after purchasing an additional 395 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its position in Alkermes by 1.5% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 33,120 shares of the company's stock worth $948,000 after purchasing an additional 502 shares in the last quarter. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ALKS. Wall Street Zen lowered shares of Alkermes from a "buy" rating to a "hold" rating in a report on Saturday, February 28th. Wells Fargo & Company boosted their target price on shares of Alkermes from $37.00 to $43.00 and gave the stock an "overweight" rating in a report on Thursday, February 26th. HC Wainwright reissued a "neutral" rating and set a $43.00 target price on shares of Alkermes in a report on Thursday, February 26th. Weiss Ratings reissued a "hold (c+)" rating on shares of Alkermes in a report on Monday, December 29th. Finally, Bank of America boosted their target price on shares of Alkermes from $34.00 to $36.00 and gave the stock a "neutral" rating in a report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Alkermes currently has a consensus rating of "Moderate Buy" and an average target price of $44.07.

Insider Activity at Alkermes

In related news, Director Shane Cooke sold 61,200 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $34.57, for a total transaction of $2,115,684.00. Following the transaction, the director directly owned 103,744 shares of the company's stock, valued at $3,586,430.08. This represents a 37.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Christian Todd Nichols sold 6,000 shares of the 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 transaction, the senior vice president directly owned 109,769 shares in the company, valued at approximately $3,293,070. This represents a 5.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 159,468 shares of company stock valued at $5,433,699 in the last ninety days. Insiders own 4.40% of the company's stock.

Alkermes Stock Performance

NASDAQ:ALKS opened at $33.36 on Monday. The firm's fifty day moving average is $31.44 and its 200-day moving average is $30.63. Alkermes plc has a 52 week low of $25.17 and a 52 week high of $36.48. The firm has a market cap of $5.55 billion, a P/E ratio of 23.33 and a beta of 0.44.

Alkermes (NASDAQ:ALKS - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.29 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.14). Alkermes had a net margin of 16.37% and a return on equity of 14.91%. The firm had revenue of $384.55 million during the quarter, compared to the consensus estimate of $380.44 million. During the same period in the prior year, the company posted $1.05 earnings per share. The company's revenue for the quarter was down 10.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Alkermes plc will post 1.31 earnings per share for the current year.

Alkermes Company 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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