Vestcor Inc Sells 21,374 Shares of Alkermes plc $ALKS

Vestcor Inc reduced its position in Alkermes plc (NASDAQ:ALKS) by 49.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,766 shares of the company’s stock after selling 21,374 shares during the quarter. Vestcor Inc’s holdings in Alkermes were worth $609,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. State Street Corp boosted its stake in shares of Alkermes by 2.3% in the 2nd quarter. State Street Corp now owns 8,208,256 shares of the company’s stock valued at $234,838,000 after purchasing an additional 185,586 shares during the last quarter. Baker BROS. Advisors LP boosted its stake in shares of Alkermes by 26.2% in the 3rd quarter. Baker BROS. Advisors LP now owns 8,091,351 shares of the company’s stock valued at $242,741,000 after purchasing an additional 1,680,748 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Alkermes by 20.2% in the 3rd quarter. American Century Companies Inc. now owns 4,397,471 shares of the company’s stock valued at $131,924,000 after purchasing an additional 740,248 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Alkermes by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 4,080,776 shares of the company’s stock valued at $114,198,000 after purchasing an additional 19,382 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Alkermes by 19.4% during the third 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 in the last quarter. 95.21% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ALKS has been the topic of several research analyst reports. Wall Street Zen lowered shares of Alkermes from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Weiss Ratings lowered shares of Alkermes from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Truist Financial raised shares of Alkermes to a “strong-buy” rating in a research note on Wednesday, March 25th. Royal Bank Of Canada cut their target price on shares of Alkermes from $47.00 to $45.00 and set an “outperform” rating on the stock in a research note on Thursday, February 26th. Finally, Zacks Research raised shares of Alkermes from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. One equities research 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 MarketBeat, Alkermes has an average rating of “Moderate Buy” and an average target price of $45.40.

Alkermes Stock Down 0.8%

Alkermes stock opened at $42.45 on Tuesday. Alkermes plc has a 1-year low of $25.17 and a 1-year high of $44.57. The firm has a market capitalization of $7.08 billion, a price-to-earnings ratio of 47.17 and a beta of 0.38. The firm’s fifty day moving average price is $36.15 and its two-hundred day moving average price is $32.30. The company has a current ratio of 2.27, a quick ratio of 1.70 and a debt-to-equity ratio of 0.85.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings data on Saturday, February 14th. The company reported $0.29 earnings per share for the quarter. Alkermes had a net margin of 9.78% and a return on equity of 9.26%. The firm had revenue of $384.55 million for the quarter. On average, equities research analysts predict that Alkermes plc will post -0.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Alkermes news, EVP David Joseph Gaffin sold 2,034 shares of the firm’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $43.05, for a total value of $87,563.70. Following the transaction, the executive vice president directly owned 229,524 shares of the company’s stock, valued at approximately $9,881,008.20. This trade represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 firm’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $33.40, for a total transaction of $300,600.00. Following the completion of the transaction, the executive vice president directly owned 81,389 shares in the company, valued at $2,718,392.60. This trade represents a 9.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 33,102 shares of company stock worth $1,220,628 over the last ninety days. Insiders own 4.59% of the company’s stock.

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.