Hussman Strategic Advisors Inc. Has $2.94 Million Holdings in Alkermes plc $ALKS

Hussman Strategic Advisors Inc. lessened its holdings in shares of Alkermes plc (NASDAQ:ALKS) by 16.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 105,000 shares of the company’s stock after selling 21,000 shares during the quarter. Alkermes accounts for approximately 0.7% of Hussman Strategic Advisors Inc.’s holdings, making the stock its 26th largest holding. Hussman Strategic Advisors Inc. owned 0.06% of Alkermes worth $2,938,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. State Street Corp raised its stake in 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 buying an additional 185,586 shares during the period. Baker BROS. Advisors LP raised its stake in 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 buying an additional 1,680,748 shares during the period. American Century Companies Inc. raised its stake in 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 buying an additional 740,248 shares during the period. Dimensional Fund Advisors LP raised its stake in 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 buying an additional 601,359 shares during the period. Finally, Commodore Capital LP raised its stake in 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 buying an additional 646,754 shares during the period. Institutional investors and hedge funds own 95.21% of the company’s stock.

Alkermes Price Performance

ALKS opened at $33.38 on Friday. The business’s 50-day moving average price is $31.44 and its two-hundred day moving average price is $30.96. Alkermes plc has a 1 year low of $25.17 and a 1 year high of $36.48. The company has a market capitalization of $5.55 billion, a price-to-earnings ratio of 23.34 and a beta of 0.31.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings results on Saturday, February 14th. The company reported $0.29 earnings per share (EPS) for the quarter. Alkermes had a return on equity of 14.91% and a net margin of 16.37%.The firm had revenue of $384.55 million for the quarter. Sell-side analysts anticipate that Alkermes plc will post -0.69 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on ALKS shares. Truist Financial raised Alkermes to a “strong-buy” rating in a research note on Wednesday, March 25th. Weiss Ratings raised Alkermes from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, April 27th. Wells Fargo & Company lifted their price target on Alkermes from $37.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. HC Wainwright reissued a “neutral” rating and issued a $43.00 price target on shares of Alkermes in a research note on Thursday, February 26th. Finally, Zacks Research raised Alkermes from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $44.29.

Insider Transactions at Alkermes

In related news, EVP Craig C. Hopkinson sold 9,000 shares of Alkermes stock in a transaction dated 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 of the company’s stock, valued at approximately $2,718,392.60. The trade was a 9.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Christian Todd Nichols sold 6,000 shares of Alkermes stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $30.00, for a total value of $180,000.00. Following the completion of the sale, 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 position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 168,468 shares of company stock worth $5,734,299. Company insiders own 4.59% of the company’s stock.

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.