Alkermes plc $ALKS Shares Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al decreased its holdings in Alkermes plc (NASDAQ:ALKS) by 59.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,300 shares of the company’s stock after selling 19,783 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Alkermes were worth $539,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ALKS. Choreo LLC increased its holdings in Alkermes by 3.1% during the 3rd quarter. Choreo LLC now owns 26,611 shares of the company’s stock worth $1,078,000 after purchasing an additional 796 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of Alkermes by 15.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 30,610 shares of the company’s stock worth $1,249,000 after buying an additional 4,083 shares in the last quarter. Sterling Capital Management LLC grew its position in shares of Alkermes by 340.2% during the third quarter. Sterling Capital Management LLC now owns 5,076 shares of the company’s stock worth $206,000 after buying an additional 3,923 shares in the last quarter. James Investment Research Inc. grew its position in shares of Alkermes by 32.7% during the third quarter. James Investment Research Inc. now owns 13,650 shares of the company’s stock worth $553,000 after buying an additional 3,365 shares in the last quarter. Finally, Root Financial Partners LLC bought a new stake in shares of Alkermes in the third quarter worth $25,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ALKS. Needham & Company LLC reaffirmed a “buy” rating and issued a $62.00 price target on shares of Alkermes in a report on Monday, September 21st. The Goldman Sachs Group assumed coverage on shares of Alkermes in a report on Thursday, September 24th. They set a “neutral” rating and a $50.00 price objective for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Alkermes in a research report on Wednesday. Truist Financial began coverage on shares of Alkermes in a research report on Friday, October 16th. They issued a “buy” rating and a $55.00 target price for the company. Finally, Wells Fargo & Company upped their target price on shares of Alkermes from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Alkermes has a consensus rating of “Moderate Buy” and a consensus price target of $55.06.

Insider Buying and Selling at Alkermes

In other Alkermes news, EVP Craig C. Hopkinson sold 9,000 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $46.99, for a total transaction of $422,910.00. Following the sale, the executive vice president directly owned 65,389 shares of the company’s stock, valued at approximately $3,072,629.11. This represents a 12.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 dated Tuesday, November 3rd. The stock was sold at an average price of $46.17, for a total transaction of $93,955.95. Following the completion of the transaction, the executive vice president owned 219,353 shares in the company, valued at approximately $10,127,528.01. The trade was a 0.92% 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. Insiders sold a total of 22,679 shares of company stock worth $1,070,940 over the last 90 days. Insiders own 4.59% of the company’s stock.

Alkermes Stock Performance

Shares of ALKS traded up $1.36 during mid-day trading on Friday, hitting $45.90. The stock had a trading volume of 1,673,316 shares, compared to its average volume of 1,832,351. The company has a market cap of $7.70 billion, a PE ratio of -2,293.85 and a beta of 0.32. The company’s fifty day simple moving average is $43.71 and its two-hundred day simple moving average is $40.80. 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 fifty-two week low of $27.00 and a fifty-two week high of $55.67.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.17. Alkermes had a return on equity of 4.15% and a net margin of 3.96%. The business had revenue of $480.13 million during the quarter, compared to the consensus estimate of $463.48 million. During the same period in the previous year, the business earned $0.49 EPS. The business’s quarterly revenue was up 21.8% on a year-over-year basis. On average, equities analysts expect that Alkermes plc will post -0.56 earnings per share for the current year.

Alkermes Profile

Alkermes plc (NASDAQ:ALKS) is a biopharmaceutical company focused on developing and commercializing medicines for central nervous system diseases. Its research and development activities address conditions including schizophrenia, bipolar disorder, addiction, depression and other neuropsychiatric disorders.

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; Aristada and Aristada Initio, long-acting injectable formulations of aripiprazole lauroxil for the treatment of schizophrenia; and Lybalvi, a combination of olanzapine and samidorphan approved for schizophrenia and bipolar I disorder in adults.

Founded in 1987, Alkermes is incorporated in Ireland and maintains its corporate headquarters in Waltham, Massachusetts.