Intech Investment Management LLC Boosts Holdings in Alkermes plc $ALKS

Intech Investment Management LLC grew its holdings in shares of Alkermes plc (NASDAQ:ALKS) by 115.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 159,581 shares of the company’s stock after acquiring an additional 85,544 shares during the quarter. Intech Investment Management LLC’s holdings in Alkermes were worth $4,465,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in ALKS. Assetmark Inc. increased its stake in shares of Alkermes by 933.8% in the third quarter. Assetmark Inc. now owns 827 shares of the company’s stock worth $25,000 after buying an additional 747 shares during the period. Cullen Frost Bankers Inc. purchased a new position in shares of Alkermes in the fourth quarter worth $28,000. Johnson Financial Group Inc. purchased a new position in shares of Alkermes in the third quarter worth $31,000. Salomon & Ludwin LLC increased its stake in shares of Alkermes by 115.6% in the fourth quarter. Salomon & Ludwin LLC now owns 1,244 shares of the company’s stock worth $35,000 after buying an additional 667 shares during the period. Finally, Hantz Financial Services Inc. increased its stake in shares of Alkermes by 395.6% in the third quarter. Hantz Financial Services Inc. now owns 1,239 shares of the company’s stock worth $37,000 after buying an additional 989 shares during the period. 95.21% of the stock is owned by hedge funds and other institutional investors.

Alkermes Price Performance

Shares of Alkermes stock opened at $42.19 on Monday. The company has a current ratio of 2.27, a quick ratio of 1.70 and a debt-to-equity ratio of 0.85. The company’s fifty day simple moving average is $34.49 and its two-hundred day simple moving average is $31.80. The company has a market cap of $7.03 billion, a P/E ratio of 46.88 and a beta of 0.38. Alkermes plc has a 12-month low of $25.17 and a 12-month high of $42.83.

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on ALKS. Bank of America lifted their target price on shares of Alkermes from $34.00 to $36.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. Weiss Ratings downgraded shares of Alkermes from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Zacks Research raised shares of Alkermes from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. HC Wainwright reaffirmed a “neutral” rating and issued a $43.00 target price on shares of Alkermes in a research note on Thursday, February 26th. Finally, Robert W. Baird lifted their target price on shares of Alkermes from $45.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.40.

Insiders Place Their Bets

In other Alkermes news, EVP David Joseph Gaffin sold 2,034 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $33.20, for a total transaction of $67,528.80. Following the transaction, the executive vice president directly owned 231,558 shares of the company’s stock, valued at approximately $7,687,725.60. The trade was a 0.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Craig C. Hopkinson sold 9,000 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $33.40, for a total transaction of $300,600.00. Following the transaction, the executive vice president directly owned 81,389 shares in the company, valued at approximately $2,718,392.60. The trade was a 9.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 22,068 shares of company stock worth $758,034. Insiders own 4.59% of the company’s stock.

Alkermes 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.