350,438 Shares of Alkermes plc $ALKS Acquired by M&G PLC

M&G PLC purchased a new position in shares of Alkermes plc (NASDAQ:ALKS) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 350,438 shares of the company’s stock, valued at approximately $14,368,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. First Trust Advisors LP lifted its position in Alkermes by 104.2% in the first quarter. First Trust Advisors LP now owns 2,968,785 shares of the company’s stock worth $104,976,000 after purchasing an additional 1,514,783 shares during the period. Commodore Capital LP boosted its stake in Alkermes by 18.3% during the 1st quarter. Commodore Capital LP now owns 4,200,000 shares of the company’s stock valued at $148,512,000 after purchasing an additional 650,000 shares in the last quarter. Affinity Asset Advisors LLC boosted its stake in Alkermes by 35.0% during the 1st quarter. Affinity Asset Advisors LLC now owns 1,350,000 shares of the company’s stock valued at $47,736,000 after purchasing an additional 350,000 shares in the last quarter. Spruce Street Capital LP bought a new position in Alkermes during the 1st quarter valued at $11,244,000. Finally, S&CO Inc. acquired a new position in shares of Alkermes during the 2nd quarter valued at $12,824,000. 95.21% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on ALKS. TD Cowen restated a “buy” rating on shares of Alkermes in a report on Monday, September 21st. Wells Fargo & Company raised their target price on Alkermes from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, November 4th. JPMorgan Chase & Co. lifted their target price on Alkermes from $60.00 to $61.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Mizuho raised Alkermes to a “strong-buy” rating in a report on Wednesday, September 16th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $63.00 price target (up from $45.00) on shares of Alkermes in a report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.06.

Alkermes Stock Up 0.6%

Alkermes stock opened at $46.47 on Wednesday. Alkermes plc has a twelve month low of $27.00 and a twelve month high of $55.67. The company has a debt-to-equity ratio of 0.79, a quick ratio of 2.02 and a current ratio of 2.42. The firm has a market cap of $7.81 billion, a PE ratio of -2,322.34 and a beta of 0.32. The firm’s 50 day moving average price is $43.67 and its two-hundred day moving average price is $40.92.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.17. Alkermes had a positive return on equity of 0.40% and a negative net margin of 0.02%. The business had revenue of $480.13 million during the quarter, compared to analyst estimates of $463.48 million. During the same period last year, the company earned $0.49 earnings per share. Alkermes’s quarterly revenue was up 21.8% compared to the same quarter last year. On average, research analysts predict that Alkermes plc will post -0.56 EPS for the current fiscal year.

Insider Activity

In related news, EVP Craig C. Hopkinson sold 9,000 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $46.99, for a total value of $422,910.00. Following the transaction, the executive vice president owned 65,389 shares in the company, valued at approximately $3,072,629.11. This represents a 12.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP David Gaffin sold 2,035 shares of the firm’s stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $46.17, for a total transaction of $93,955.95. Following the transaction, the executive vice president directly owned 219,353 shares in the company, valued at approximately $10,127,528.01. The trade was a 0.92% decrease in their position. 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 sold a total of 22,679 shares of company stock worth $1,070,940 in the last three months. 4.59% of the stock is owned by insiders.

Alkermes Profile

Alkermes plc is a biopharmaceutical company focused on developing and commercializing medicines for neuroscience-related conditions, including serious mental illness and addiction. Founded in 1987, the company has operations in the United States and Ireland, with its corporate headquarters in Dublin and major U.S. operations in Massachusetts. Its marketed medicines include Vivitrol, an extended-release injectable formulation of naltrexone used to treat alcohol dependence and to prevent relapse to opioid dependence after detoxification; Aristada, an injectable treatment for schizophrenia in adults; and Lybalvi, a medicine for schizophrenia and bipolar I disorder in adults.