GC Wealth Management RIA LLC Lowers Stock Holdings in Alkermes plc $ALKS

GC Wealth Management RIA LLC reduced its holdings in Alkermes plc (NASDAQ:ALKS) by 54.6% during the 1st quarter, Holdings Channel reports. The firm owned 16,980 shares of the company’s stock after selling 20,438 shares during the quarter. GC Wealth Management RIA LLC’s holdings in Alkermes were worth $600,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Cullen Frost Bankers Inc. acquired a new position in shares of Alkermes during the 4th quarter worth approximately $28,000. Johnson Financial Group Inc. purchased a new position in shares of Alkermes during the 3rd quarter valued at approximately $31,000. UMB Bank n.a. grew its stake in Alkermes by 57.6% in the 4th quarter. UMB Bank n.a. now owns 1,220 shares of the company’s stock valued at $34,000 after acquiring an additional 446 shares during the period. Salomon & Ludwin LLC grew its stake in Alkermes by 115.6% in the 4th quarter. Salomon & Ludwin LLC now owns 1,244 shares of the company’s stock valued at $35,000 after acquiring an additional 667 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Alkermes by 1,041.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,324 shares of the company’s stock worth $37,000 after acquiring an additional 1,208 shares in the last quarter. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alkermes

In other Alkermes news, Director Christopher I. Wright sold 2,000 shares of Alkermes stock in a transaction 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 sale, the director owned 25,680 shares of the company’s stock, valued at $1,158,168. The trade was a 7.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP David Joseph Gaffin sold 2,034 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $43.05, for a total transaction of $87,563.70. Following the sale, the executive vice president directly owned 229,524 shares of the company’s stock, valued at $9,881,008.20. The trade was a 0.88% 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. In the last 90 days, insiders have sold 35,102 shares of company stock worth $1,494,410. Corporate insiders own 4.59% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Zacks Research upgraded shares of Alkermes from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Robert W. Baird lifted their target price on shares of Alkermes from $45.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Stifel Nicolaus reissued a “buy” rating and set a $63.00 target price (up from $45.00) on shares of Alkermes in a research note on Monday, July 20th. Mizuho boosted their target price on shares of Alkermes from $53.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, July 2nd. Finally, Weiss Ratings downgraded shares of Alkermes from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $52.50.

Alkermes Stock Down 0.2%

Shares of ALKS opened at $52.89 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.70 and a current ratio of 2.27. Alkermes plc has a one year low of $25.17 and a one year high of $55.67. The stock has a market capitalization of $8.82 billion, a price-to-earnings ratio of 58.77 and a beta of 0.34. The stock has a 50 day moving average price of $46.92 and a 200 day moving average price of $37.44.

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.