Headlands Technologies LLC Makes New $750,000 Investment in Alkermes plc $ALKS

Headlands Technologies LLC acquired a new stake in Alkermes plc (NASDAQ:ALKS) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 14,313 shares of the company’s stock, valued at approximately $750,000.

Other large investors have also modified their holdings of the company. Cullen Frost Bankers Inc. purchased a new position in shares of Alkermes during the fourth quarter worth approximately $28,000. Johnson Financial Group Inc. purchased a new stake in Alkermes in the 3rd quarter valued at $31,000. UMB Bank n.a. boosted its stake in 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. Northwestern Mutual Wealth Management Co. boosted its stake in Alkermes by 1,041.4% during the 4th 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 during the period. Finally, Osaic Holdings Inc. boosted its stake in Alkermes by 56.4% during the 2nd quarter. Osaic Holdings Inc. now owns 1,945 shares of the company’s stock worth $56,000 after purchasing an additional 701 shares during the period. 95.21% of the stock is owned by institutional investors and hedge funds.

Alkermes Price Performance

Alkermes stock opened at $47.20 on Wednesday. Alkermes plc has a one year low of $25.17 and a one year high of $55.67. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.85 and a current ratio of 2.30. The business has a fifty day moving average of $50.91 and a two-hundred day moving average of $40.66. The company has a market cap of $7.92 billion, a P/E ratio of 124.21 and a beta of 0.31.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Mizuho lifted their price objective on shares of Alkermes from $53.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, July 2nd. Needham & Company LLC increased their target price on shares of Alkermes from $61.00 to $62.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Alkermes in a report on Friday, August 7th. Wells Fargo & Company boosted their price target on Alkermes from $44.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, June 29th. Finally, Royal Bank Of Canada upped their price objective on Alkermes from $45.00 to $56.00 and gave the company an “outperform” rating in a research note on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $54.56.

Insider Transactions at Alkermes

In related news, SVP Christian Todd Nichols sold 7,576 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $49.23, for a total transaction of $372,966.48. Following the sale, the senior vice president owned 102,193 shares of the company’s stock, valued at approximately $5,030,961.39. The trade was a 6.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 dated Tuesday, September 1st. The stock was sold at an average price of $46.99, for a total transaction of $422,910.00. Following the transaction, the executive vice president owned 65,389 shares in the company, valued at $3,072,629.11. The trade was a 12.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 87,150 shares of company stock valued at $4,322,324. 4.59% of the stock is owned by company insiders.

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.