Lombard Odier Asset Management USA Corp Acquires Shares of 10,232 Alkermes plc $ALKS

Lombard Odier Asset Management USA Corp acquired a new stake in Alkermes plc (NASDAQ:ALKS) in the 1st quarter, Holdings Channel.com reports. The institutional investor acquired 10,232 shares of the company’s stock, valued at approximately $362,000.

Other hedge funds have also modified their holdings of the company. Affinity Asset Advisors LLC raised its holdings in shares of Alkermes by 35.0% in the first quarter. Affinity Asset Advisors LLC now owns 1,350,000 shares of the company’s stock valued at $47,736,000 after buying an additional 350,000 shares during the last quarter. Spruce Street Capital LP acquired a new position in shares of Alkermes during the 1st quarter worth $11,244,000. Public Employees Retirement System of Ohio grew its position in Alkermes by 413.4% during the first quarter. Public Employees Retirement System of Ohio now owns 4,929 shares of the company’s stock worth $174,000 after buying an additional 3,969 shares during the period. Knott David M Jr lifted its position in shares of Alkermes by 26.3% during the 1st quarter. Knott David M Jr now owns 120,000 shares of the company’s stock valued at $4,243,000 after acquiring an additional 25,000 shares during the period. Finally, Militia Capital Management LLC acquired a new stake in shares of Alkermes during the 1st quarter valued at approximately $1,129,000. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on ALKS. HC Wainwright reaffirmed a “neutral” rating on shares of Alkermes in a research note on Thursday, June 18th. Wells Fargo & Company boosted their target price on Alkermes from $44.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Mizuho upped their target price on Alkermes from $53.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, July 2nd. TD Cowen raised their price target on Alkermes from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, June 22nd. Finally, Zacks Research raised Alkermes from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Alkermes has an average rating of “Moderate Buy” and an average target price of $52.50.

Alkermes Trading Down 0.2%

Shares of Alkermes stock opened at $52.89 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.27 and a quick ratio of 1.70. Alkermes plc has a 1 year low of $25.17 and a 1 year high of $55.67. The company has a market capitalization of $8.82 billion, a P/E ratio of 58.77 and a beta of 0.34. The business has a 50 day moving average price of $46.92 and a 200 day moving average price of $37.44.

Insider Activity at Alkermes

In other Alkermes news, EVP David Joseph Gaffin sold 2,034 shares of the firm’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $54.03, for a total transaction of $109,897.02. Following the sale, the executive vice president directly owned 227,490 shares of the company’s stock, valued at $12,291,284.70. This trade represents a 0.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Craig C. Hopkinson sold 9,000 shares of Alkermes stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $51.51, for a total transaction of $463,590.00. Following the sale, the executive vice president owned 73,389 shares of the company’s stock, valued at approximately $3,780,267.39. This trade represents a 10.92% decrease in their ownership of the stock. 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 a total of 35,102 shares of company stock valued at $1,494,410 over the last quarter. 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.