Louisiana State Employees Retirement System Makes New Investment in Alkermes plc $ALKS

Louisiana State Employees Retirement System purchased a new stake in shares of Alkermes plc (NASDAQ:ALKS) during the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 73,200 shares of the company’s stock, valued at approximately $2,588,000.

Other institutional investors also recently modified their holdings of the company. American Century Companies Inc. grew its stake in Alkermes by 20.2% in the 3rd quarter. American Century Companies Inc. now owns 4,397,471 shares of the company’s stock valued at $131,924,000 after buying an additional 740,248 shares during the last quarter. Victory Capital Management Inc. lifted its position in Alkermes by 43.1% during the 3rd quarter. Victory Capital Management Inc. now owns 344,202 shares of the company’s stock worth $10,326,000 after acquiring an additional 103,749 shares during the last quarter. Tudor Investment Corp ET AL bought a new stake in Alkermes during the third quarter valued at about $1,691,000. Fisher Asset Management LLC boosted its holdings in Alkermes by 21.0% during the fourth quarter. Fisher Asset Management LLC now owns 390,493 shares of the company’s stock valued at $10,926,000 after acquiring an additional 67,745 shares during the period. Finally, Profund Advisors LLC grew its position in shares of Alkermes by 80.9% in the fourth quarter. Profund Advisors LLC now owns 80,624 shares of the company’s stock valued at $2,256,000 after purchasing an additional 36,067 shares during the last quarter. Institutional investors own 95.21% of the company’s stock.

Wall Street Analysts Forecast Growth

ALKS has been the topic of a number of recent analyst reports. HC Wainwright reiterated a “neutral” rating on shares of Alkermes in a research note on Thursday, June 18th. Robert W. Baird raised their target price on Alkermes from $45.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Piper Sandler dropped their price target on Alkermes from $45.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 24th. Wells Fargo & Company lifted their price target on Alkermes from $43.00 to $44.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Finally, TD Cowen increased their price objective on Alkermes from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Alkermes currently has an average rating of “Moderate Buy” and an average price target of $47.06.

Alkermes Stock Performance

NASDAQ:ALKS opened at $55.08 on Monday. The firm’s 50-day moving average is $39.79 and its 200-day moving average is $34.03. Alkermes plc has a 52-week low of $25.17 and a 52-week high of $55.28. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.70 and a current ratio of 2.27. The company has a market cap of $9.18 billion, a price-to-earnings ratio of 61.20 and a beta of 0.38.

Alkermes (NASDAQ:ALKS) last released its earnings results on Saturday, February 14th. The company reported $0.29 earnings per share for the quarter. Alkermes had a net margin of 9.78% and a return on equity of 9.26%. The business had revenue of $384.55 million during the quarter. Equities research analysts anticipate that Alkermes plc will post -0.43 earnings per share for the current year.

Insider Buying and Selling at Alkermes

In other news, EVP David Joseph Gaffin sold 2,034 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $33.20, for a total transaction of $67,528.80. Following the sale, the executive vice president directly owned 231,558 shares in the company, valued at approximately $7,687,725.60. The trade was a 0.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christopher I. Wright sold 2,000 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $45.10, for a total value of $90,200.00. Following the completion of the transaction, the director owned 25,680 shares of the company’s stock, valued at $1,158,168. The trade was a 7.23% 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 sold a total of 35,102 shares of company stock valued at $1,310,828 in the last quarter. Corporate insiders own 4.59% of the company’s stock.

About Alkermes

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.