Danske Bank A S Sells 32,271 Shares of Alkermes plc $ALKS

Danske Bank A S reduced its stake in Alkermes plc (NASDAQ:ALKS) by 96.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,200 shares of the company’s stock after selling 32,271 shares during the quarter. Danske Bank A S’s holdings in Alkermes were worth $34,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Assetmark Inc. boosted its holdings in Alkermes by 933.8% during the 3rd quarter. Assetmark Inc. now owns 827 shares of the company’s stock worth $25,000 after acquiring an additional 747 shares during the last quarter. Johnson Financial Group Inc. purchased a new stake in shares of Alkermes in the third quarter valued at about $31,000. Hantz Financial Services Inc. lifted its position in shares of Alkermes by 395.6% during the third quarter. Hantz Financial Services Inc. now owns 1,239 shares of the company’s stock valued at $37,000 after purchasing an additional 989 shares in the last quarter. Salomon & Ludwin LLC lifted its position in shares of Alkermes by 115.6% during the fourth quarter. Salomon & Ludwin LLC now owns 1,244 shares of the company’s stock valued at $35,000 after purchasing an additional 667 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its holdings in Alkermes by 56.4% during the second quarter. Osaic Holdings Inc. now owns 1,945 shares of the company’s stock worth $56,000 after purchasing an additional 701 shares during the last quarter. 95.21% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Craig C. Hopkinson sold 9,000 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president owned 81,389 shares in the company, valued at $2,718,392.60. This trade represents a 9.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 Alkermes stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $33.20, for a total transaction of $67,528.80. Following the completion of the sale, the executive vice president directly owned 231,558 shares in the company, valued at $7,687,725.60. This trade represents a 0.87% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 39,102 shares of company stock valued at $1,265,090 in the last three months. Company insiders own 4.59% of the company’s stock.

Alkermes Price Performance

Shares of NASDAQ:ALKS opened at $34.99 on Friday. The company has a market capitalization of $5.83 billion, a P/E ratio of 38.88 and a beta of 0.31. The company’s 50-day moving average is $31.63 and its 200 day moving average is $31.04. The company has a debt-to-equity ratio of 0.85, a quick ratio of 3.19 and a current ratio of 2.27. Alkermes plc has a fifty-two week low of $25.17 and a fifty-two week high of $36.60.

Alkermes (NASDAQ:ALKS) last posted its quarterly earnings data on Saturday, February 14th. The company reported $0.29 earnings per share (EPS) for the quarter. The business had revenue of $384.55 million during the quarter. Alkermes had a net margin of 9.78% and a return on equity of 9.26%. On average, equities research analysts forecast that Alkermes plc will post -0.62 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ALKS shares. Truist Financial raised shares of Alkermes to a “strong-buy” rating in a research report on Wednesday, March 25th. Needham & Company LLC lifted their target price on shares of Alkermes from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday. Wells Fargo & Company boosted their target price on Alkermes from $43.00 to $44.00 and gave the stock an “overweight” rating in a research note on Wednesday. Bank of America upped their target price on Alkermes from $34.00 to $36.00 and gave the company a “neutral” rating in a report on Thursday, April 9th. Finally, Wall Street Zen downgraded Alkermes from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued 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 a consensus target price of $45.21.

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.