Alkermes plc $ALKS Shares Sold by Empowered Funds LLC

Empowered Funds LLC trimmed its holdings in shares of Alkermes plc (NASDAQ:ALKS) by 87.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,817 shares of the company’s stock after selling 53,381 shares during the period. Empowered Funds LLC’s holdings in Alkermes were worth $276,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Alkermes in the fourth quarter valued at $54,442,000. Baker BROS. Advisors LP boosted its stake in shares of Alkermes by 23.7% during the 4th quarter. Baker BROS. Advisors LP now owns 10,012,267 shares of the company’s stock worth $280,143,000 after acquiring an additional 1,920,916 shares in the last quarter. UBS Group AG boosted its stake in shares of Alkermes by 237.4% during the 4th quarter. UBS Group AG now owns 2,544,895 shares of the company’s stock worth $71,206,000 after acquiring an additional 1,790,729 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Alkermes by 104.2% in the 1st quarter. First Trust Advisors LP now owns 2,968,785 shares of the company’s stock worth $104,976,000 after acquiring an additional 1,514,783 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Alkermes by 32.0% in the 4th quarter. JPMorgan Chase & Co. now owns 5,184,547 shares of the company’s stock worth $145,064,000 after acquiring an additional 1,256,377 shares during the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.

Analyst Upgrades and Downgrades

ALKS has been the subject of several analyst reports. Zacks Research raised Alkermes from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. TD Cowen lifted their price target on Alkermes from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. Mizuho boosted their price objective on Alkermes from $53.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, July 2nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $63.00 price objective (up from $45.00) on shares of Alkermes in a research note on Monday, July 20th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $65.00 price objective (up from $43.00) on shares of Alkermes in a research note on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $54.56.

Insiders Place Their Bets

In other news, Director Christopher I. Wright sold 2,000 shares of Alkermes stock in a transaction on Friday, June 12th. The stock was sold at an average price of $45.10, for a total transaction of $90,200.00. Following the transaction, the director owned 25,680 shares in the company, valued at approximately $1,158,168. The trade was a 7.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Nancy Lynn Md Snyderman sold 44,472 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $50.35, for a total value of $2,239,165.20. Following the transaction, the director directly owned 15,395 shares in the company, valued at $775,138.25. The trade was a 74.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 79,574 shares of company stock worth $3,901,478. 4.59% of the stock is currently owned by corporate insiders.

Alkermes Price Performance

Shares of NASDAQ:ALKS opened at $49.45 on Friday. The company’s fifty day moving average is $49.85 and its two-hundred day moving average is $39.34. The company has a quick ratio of 1.85, a current ratio of 2.30 and a debt-to-equity ratio of 0.82. Alkermes plc has a 12-month low of $25.17 and a 12-month high of $55.67. The company has a market cap of $8.30 billion, a P/E ratio of 130.14 and a beta of 0.34.

Alkermes Company 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.