DNB Asset Management AS Grows Stake in Alkermes plc $ALKS

DNB Asset Management AS grew its position in Alkermes plc (NASDAQ:ALKS) by 132.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 30,762 shares of the company’s stock after purchasing an additional 17,532 shares during the period. DNB Asset Management AS’s holdings in Alkermes were worth $861,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Assetmark Inc. grew its holdings in Alkermes by 933.8% in the third quarter. Assetmark Inc. now owns 827 shares of the company’s stock worth $25,000 after purchasing an additional 747 shares during the last quarter. Johnson Financial Group Inc. purchased a new position in Alkermes in the third quarter worth $31,000. Hantz Financial Services Inc. grew its holdings in 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 purchasing an additional 989 shares during the last quarter. Salomon & Ludwin LLC grew its holdings in 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 purchasing an additional 667 shares during the last quarter. Finally, Osaic Holdings Inc. grew its holdings in Alkermes by 56.4% in the second quarter. Osaic Holdings Inc. now owns 1,945 shares of the company’s stock worth $56,000 after purchasing an additional 701 shares during the last quarter. 95.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ALKS. Bank of America lifted their price target on shares of Alkermes from $34.00 to $36.00 and gave the stock a “neutral” rating in a report 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. UBS Group lifted their price objective on shares of Alkermes from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Wolfe Research initiated coverage on shares of Alkermes in a research note on Monday, February 23rd. They set an “outperform” rating and a $45.00 price objective for the company. Finally, Piper Sandler lowered their price objective on shares of Alkermes from $45.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, March 24th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $45.40.

Insider Activity at Alkermes

In related news, 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 completion of the transaction, the executive vice president directly owned 81,389 shares in the company, valued at $2,718,392.60. The trade was a 9.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 owned 231,558 shares of the company’s stock, valued at $7,687,725.60. This represents a 0.87% 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 39,102 shares of company stock worth $1,265,090 over the last three months. Company insiders own 4.59% of the company’s stock.

Alkermes Trading Down 0.1%

NASDAQ:ALKS opened at $36.98 on Thursday. Alkermes plc has a 12 month low of $25.17 and a 12 month high of $39.56. The firm has a fifty day simple moving average of $33.00 and a 200-day simple moving average of $31.46. 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 has a market capitalization of $6.16 billion, a P/E ratio of 41.09 and a beta of 0.31.

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

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.