Alkermes plc $ALKS Shares Acquired by Quantinno Capital Management LP

Quantinno Capital Management LP grew its holdings in Alkermes plc (NASDAQ:ALKS) by 131.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 44,932 shares of the company’s stock after acquiring an additional 25,492 shares during the quarter. Quantinno Capital Management LP’s holdings in Alkermes were worth $1,589,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in Alkermes in the fourth quarter valued at approximately $54,442,000. Baker BROS. Advisors LP increased its stake in Alkermes by 23.7% in the fourth quarter. Baker BROS. Advisors LP now owns 10,012,267 shares of the company’s stock valued at $280,143,000 after purchasing an additional 1,920,916 shares during the last quarter. UBS Group AG raised its holdings in Alkermes by 237.4% during the fourth quarter. UBS Group AG now owns 2,544,895 shares of the company’s stock worth $71,206,000 after purchasing an additional 1,790,729 shares in the last quarter. First Trust Advisors LP raised its holdings in Alkermes by 104.2% during the first quarter. First Trust Advisors LP now owns 2,968,785 shares of the company’s stock worth $104,976,000 after purchasing an additional 1,514,783 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Alkermes by 32.0% during the 4th quarter. JPMorgan Chase & Co. now owns 5,184,547 shares of the company’s stock worth $145,064,000 after buying an additional 1,256,377 shares during the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Piper Sandler restated an “overweight” rating and issued a $65.00 target price (up from $43.00) on shares of Alkermes in a report on Tuesday, July 28th. Mizuho boosted their price target on shares of Alkermes from $53.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, July 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Alkermes in a research report on Friday, August 7th. Stifel Nicolaus restated a “buy” rating and issued a $63.00 price objective (up from $45.00) on shares of Alkermes in a research note on Monday, July 20th. Finally, Zacks Research raised Alkermes from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. 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 given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $54.56.

Alkermes Price Performance

Shares of NASDAQ ALKS opened at $50.28 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 twelve month low of $25.17 and a twelve month high of $55.67. The stock has a 50 day moving average of $49.73 and a two-hundred day moving average of $39.23. The stock has a market cap of $8.44 billion, a P/E ratio of 132.32 and a beta of 0.34.

Insider Buying and Selling at Alkermes

In related news, Director Nancy Lynn Md Snyderman sold 44,472 shares of the stock in a transaction 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 owned 15,395 shares in the company, valued at $775,138.25. This represents a 74.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David Joseph Gaffin sold 2,034 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $48.58, for a total value of $98,811.72. Following the transaction, the executive vice president directly owned 225,456 shares in the company, valued at approximately $10,952,652.48. This represents a 0.89% decrease in their position. 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 quarter, insiders sold 79,574 shares of company stock valued at $3,901,478. 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.