Alkermes plc $ALKS Stake Lifted by California State Teachers Retirement System

California State Teachers Retirement System lifted its stake in shares of Alkermes plc (NASDAQ:ALKS) by 23.5% during the first quarter, Holdings Channel.com reports. The fund owned 183,795 shares of the company’s stock after purchasing an additional 35,002 shares during the period. California State Teachers Retirement System’s holdings in Alkermes were worth $6,499,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC boosted its stake in Alkermes by 2.7% during the 4th quarter. Sanctuary Advisors LLC now owns 12,141 shares of the company’s stock valued at $340,000 after purchasing an additional 315 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Alkermes by 3.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,326 shares of the company’s stock valued at $289,000 after buying an additional 351 shares during the period. Orion Porfolio Solutions LLC lifted its holdings in shares of Alkermes by 4.5% in the third quarter. Orion Porfolio Solutions LLC now owns 8,762 shares of the company’s stock valued at $263,000 after buying an additional 376 shares during the period. Horizon Investments LLC boosted its stake in Alkermes by 0.9% during the third quarter. Horizon Investments LLC now owns 43,002 shares of the company’s stock valued at $1,290,000 after buying an additional 387 shares in the last quarter. Finally, Tidal Investments LLC boosted its stake in Alkermes by 1.1% during the second quarter. Tidal Investments LLC now owns 35,130 shares of the company’s stock valued at $1,005,000 after buying an additional 395 shares in the last quarter. Institutional investors own 95.21% of the company’s stock.

Alkermes Trading Down 0.1%

Shares of NASDAQ ALKS opened at $49.61 on Thursday. The company has a current ratio of 2.30, a quick ratio of 1.85 and a debt-to-equity ratio of 0.82. Alkermes plc has a one year low of $25.17 and a one year high of $55.67. The business has a 50-day moving average price of $48.97 and a two-hundred day moving average price of $38.64. The firm has a market capitalization of $8.32 billion, a PE ratio of 130.56 and a beta of 0.34.

Insider Activity at Alkermes

In related news, Director Nancy Lynn Md Snyderman sold 44,472 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $50.35, for a total transaction of $2,239,165.20. Following the completion of the sale, the director directly owned 15,395 shares in the company, valued at approximately $775,138.25. This trade represents a 74.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Craig C. Hopkinson sold 9,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $48.58, for a total transaction of $437,220.00. Following the transaction, the executive vice president directly owned 69,389 shares in the company, valued at $3,370,917.62. The trade was a 11.48% 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 79,574 shares of company stock valued at $3,901,478 over the last ninety days. 4.59% of the stock is owned by company insiders.

Analyst Ratings Changes

ALKS has been the topic of several research reports. Bank of America reiterated an “underperform” rating on shares of Alkermes in a research report on Monday, June 29th. HC Wainwright restated a “neutral” rating on shares of Alkermes in a research report on Thursday, July 30th. Mizuho lifted their price objective on shares of Alkermes from $53.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, July 2nd. Needham & Company LLC raised their target price on shares of Alkermes from $61.00 to $62.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Finally, UBS Group lifted their price target on shares of Alkermes from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Alkermes presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.56.

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.