Principal Financial Group Inc. Boosts Stock Holdings in Alkermes plc $ALKS

Principal Financial Group Inc. boosted its position in Alkermes plc (NASDAQ:ALKS) by 1.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 958,016 shares of the company’s stock after purchasing an additional 10,393 shares during the period. Principal Financial Group Inc.’s holdings in Alkermes were worth $33,875,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently modified their holdings of ALKS. Royal Bank of Canada boosted its position in shares of Alkermes by 117.2% during the 1st quarter. Royal Bank of Canada now owns 275,526 shares of the company’s stock worth $9,098,000 after purchasing an additional 148,696 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Alkermes in the first quarter valued at about $213,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Alkermes by 4.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 482,332 shares of the company’s stock worth $15,927,000 after buying an additional 20,091 shares in the last quarter. Cetera Investment Advisers boosted its holdings in Alkermes by 32.3% during the second quarter. Cetera Investment Advisers now owns 13,907 shares of the company’s stock worth $398,000 after buying an additional 3,394 shares in the last quarter. Finally, Quantbot Technologies LP grew its position in Alkermes by 539.4% during the second quarter. Quantbot Technologies LP now owns 6,976 shares of the company’s stock worth $200,000 after buying an additional 5,885 shares during the period. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. UBS Group increased their target price on shares of Alkermes from $42.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Mizuho boosted their price target on Alkermes from $53.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, July 2nd. Robert W. Baird upped their price target on Alkermes from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Truist Financial raised Alkermes to a “strong-buy” rating in a research note on Wednesday, March 25th. Finally, Royal Bank Of Canada lifted their price objective on Alkermes from $45.00 to $56.00 and gave the stock an “outperform” rating in a report on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Alkermes has an average rating of “Moderate Buy” and a consensus price target of $51.80.

Insider Transactions at Alkermes

In related news, Director Christopher I. Wright sold 2,000 shares of Alkermes 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 owned 25,680 shares in the company, valued at approximately $1,158,168. This trade represents a 7.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 Alkermes stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $51.51, for a total value of $463,590.00. Following the sale, the executive vice president owned 73,389 shares of the company’s stock, valued at approximately $3,780,267.39. This represents a 10.92% 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 a total of 35,102 shares of company stock valued at $1,494,410 over the last three months. 4.59% of the stock is currently owned by insiders.

Alkermes Price Performance

ALKS stock opened at $52.72 on Friday. The stock’s 50 day moving average price is $45.43 and its 200 day moving average price is $36.58. The firm has a market cap of $8.79 billion, a P/E ratio of 58.58 and a beta of 0.34. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.70 and a current ratio of 2.27. Alkermes plc has a 1 year low of $25.17 and a 1 year high of $55.67.

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.