Wellington Management Group LLP Sells 155,362 Shares of Alkermes plc $ALKS

Wellington Management Group LLP lessened its stake in shares of Alkermes plc (NASDAQ:ALKS) by 5.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,814,804 shares of the company’s stock after selling 155,362 shares during the period. Wellington Management Group LLP owned 1.68% of Alkermes worth $147,482,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ALKS. Public Employees Retirement System of Ohio bought a new stake in Alkermes in the second quarter valued at $267,000. C M Bidwell & Associates Ltd. acquired a new stake in shares of Alkermes in the 2nd quarter valued at about $104,000. S&CO Inc. bought a new stake in Alkermes in the 2nd quarter valued at about $12,824,000. Hennion & Walsh Asset Management Inc. bought a new stake in Alkermes in the 2nd quarter valued at about $2,479,000. Finally, GAMMA Investing LLC raised its stake in Alkermes by 24.5% during the 2nd quarter. GAMMA Investing LLC now owns 6,705 shares of the company’s stock worth $351,000 after buying an additional 1,320 shares during the period. 95.21% of the stock is owned by institutional investors.

Alkermes Stock Down 0.9%

Shares of NASDAQ:ALKS opened at $46.99 on Tuesday. The stock has a market cap of $7.88 billion, a price-to-earnings ratio of 123.66 and a beta of 0.34. 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 12-month low of $25.17 and a 12-month high of $55.67. The business’s 50 day moving average is $50.93 and its 200 day moving average is $40.57.

Insider Activity at Alkermes

In other Alkermes news, EVP David Joseph Gaffin sold 2,034 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $48.58, for a total value of $98,811.72. Following the completion of the sale, the executive vice president owned 225,456 shares in the company, valued at approximately $10,952,652.48. This trade represents a 0.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible 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 Alkermes stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $51.51, for a total value of $463,590.00. Following the sale, the executive vice president owned 73,389 shares in the company, valued at $3,780,267.39. This trade represents a 10.92% 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 78,150 shares of company stock valued at $3,899,414 over the last three months. Insiders own 4.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Mizuho boosted their price objective on Alkermes from $53.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, July 2nd. Bank of America reiterated an “underperform” rating on shares of Alkermes in a report on Monday, June 29th. Needham & Company LLC boosted their price target on shares of Alkermes from $61.00 to $62.00 and gave the company a “buy” rating in a research note on Monday, July 13th. JPMorgan Chase & Co. upped their price objective on shares of Alkermes from $60.00 to $61.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Finally, Robert W. Baird raised their price objective on shares of Alkermes from $48.00 to $58.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Alkermes presently has a consensus rating of “Moderate Buy” and an average price target of $54.56.

Alkermes Company 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.