Alkermes plc $ALKS Shares Sold by Entropy Technologies LP

Entropy Technologies LP trimmed its holdings in Alkermes plc (NASDAQ:ALKS) by 64.1% in the first quarter, Holdings Channel.com reports. The institutional investor owned 22,885 shares of the company’s stock after selling 40,839 shares during the quarter. Entropy Technologies LP’s holdings in Alkermes were worth $809,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cullen Frost Bankers Inc. acquired a new stake in Alkermes in the 4th quarter valued at about $28,000. Johnson Financial Group Inc. acquired a new position in Alkermes in the third quarter valued at approximately $31,000. UMB Bank n.a. grew its holdings in shares of Alkermes by 57.6% during the 4th quarter. UMB Bank n.a. now owns 1,220 shares of the company’s stock worth $34,000 after purchasing an additional 446 shares during the period. Salomon & Ludwin LLC raised its position in Alkermes by 115.6% in 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 during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Alkermes by 1,041.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,324 shares of the company’s stock worth $37,000 after purchasing an additional 1,208 shares in the last quarter. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Alkermes

In other Alkermes news, Director Christopher I. Wright sold 2,000 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $45.10, for a total transaction of $90,200.00. Following the completion of the sale, the director directly owned 25,680 shares in the company, valued at $1,158,168. This represents a 7.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 Alkermes stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $54.03, for a total value of $109,897.02. Following the completion of the transaction, the executive vice president directly owned 227,490 shares in the company, valued at $12,291,284.70. This represents a 0.89% 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. Over the last three months, insiders sold 35,102 shares of company stock worth $1,494,410. 4.59% of the stock is owned by company insiders.

Alkermes Trading Down 4.2%

Shares of Alkermes stock opened at $50.50 on Wednesday. The business’s fifty day moving average is $47.51 and its two-hundred day moving average is $37.82. The company has a quick ratio of 1.70, a current ratio of 2.27 and a debt-to-equity ratio of 0.85. Alkermes plc has a fifty-two week low of $25.17 and a fifty-two week high of $55.67. The firm has a market cap of $8.42 billion, a PE ratio of 56.11 and a beta of 0.34.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Bank of America restated an “underperform” rating on shares of Alkermes in a report on Monday, June 29th. TD Cowen boosted their target price on Alkermes from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. Needham & Company LLC increased their target price on shares of Alkermes from $61.00 to $62.00 and gave the company a “buy” rating in a research report on Monday, July 13th. UBS Group increased their price objective on Alkermes from $42.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, Wells Fargo & Company increased their price target on Alkermes from $44.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, June 29th. One 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 issued a Sell rating to the company. According to data from MarketBeat.com, Alkermes currently has an average rating of “Moderate Buy” and an average price target of $53.88.

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.