Squarepoint Ops LLC Sells 162,424 Shares of Alkermes plc $ALKS

Squarepoint Ops LLC trimmed its stake in Alkermes plc (NASDAQ:ALKS) by 58.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 115,195 shares of the company’s stock after selling 162,424 shares during the period. Squarepoint Ops LLC owned about 0.07% of Alkermes worth $6,036,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ALKS. California State Teachers Retirement System raised its position in shares of Alkermes by 5,527.7% during the second quarter. California State Teachers Retirement System now owns 10,343,402 shares of the company’s stock valued at $541,994,000 after buying an additional 10,159,607 shares during the last quarter. Norges Bank acquired a new stake in Alkermes during the fourth quarter worth about $54,442,000. Baker BROS. Advisors LP increased its stake in Alkermes by 23.7% during the fourth quarter. Baker BROS. Advisors LP now owns 10,012,267 shares of the company’s stock valued at $280,143,000 after acquiring an additional 1,920,916 shares during the period. First Trust Advisors LP increased its stake in Alkermes by 104.2% during the first quarter. First Trust Advisors LP now owns 2,968,785 shares of the company’s stock valued at $104,976,000 after acquiring an additional 1,514,783 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Alkermes by 32.0% in the 4th quarter. JPMorgan Chase & Co. now owns 5,184,547 shares of the company’s stock valued at $145,064,000 after acquiring an additional 1,256,377 shares in the last quarter. Institutional investors own 95.21% of the company’s stock.

Insider Buying and Selling

In related news, EVP David Gaffin sold 2,034 shares of the business’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $48.01, for a total value of $97,652.34. Following the sale, the executive vice president owned 223,422 shares of the company’s stock, valued at $10,726,490.22. The trade was a 0.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Craig C. Hopkinson sold 9,000 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $48.58, for a total value of $437,220.00. Following the completion of the sale, the executive vice president owned 69,389 shares in the company, valued at $3,370,917.62. This trade represents a 11.48% 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. Insiders have sold 85,150 shares of company stock worth $4,242,213 over the last 90 days. Corporate insiders own 4.59% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. TD Cowen raised their price objective on Alkermes from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. Royal Bank Of Canada upped their target price on Alkermes from $45.00 to $56.00 and gave the company an “outperform” rating in a research note on Tuesday, June 9th. Robert W. Baird raised their target price on Alkermes from $48.00 to $58.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Alkermes in a research note on Friday, August 7th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Alkermes from $60.00 to $61.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. One equities 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 issued a Sell rating to the stock. Based on data from MarketBeat, Alkermes currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.56.

Alkermes Stock Down 0.3%

Shares of ALKS opened at $45.97 on Friday. The company has a quick ratio of 1.85, a current ratio of 2.30 and a debt-to-equity ratio of 0.82. The company has a 50-day moving average price of $49.82 and a two-hundred day moving average price of $41.36. The stock has a market cap of $7.71 billion, a price-to-earnings ratio of 120.98 and a beta of 0.31. Alkermes plc has a 12 month low of $26.40 and a 12 month high of $55.67.

About Alkermes

Alkermes plc (NASDAQ: ALKS) is a biopharmaceutical company focused on developing and commercializing medicines for central nervous system diseases. Its research and development activities include treatments for schizophrenia, bipolar disorder, addiction and other serious neurological or psychiatric conditions, with an emphasis on long-acting injectable and extended-release formulations.

The company’s marketed products include VIVITROL, an extended-release injectable form of naltrexone used to treat alcohol dependence and prevent relapse to opioid dependence after detoxification; ARISTADA, an extended-release injectable formulation of aripiprazole lauroxil for the treatment of schizophrenia in adults; and LYBALVI, an oral combination of olanzapine and samidorphan approved for schizophrenia and bipolar I disorder in adults.

Founded in Ireland in 1987, Alkermes has developed drug-delivery technologies intended to help extend dosing intervals and support medication adherence.