Alkermes plc $ALKS Shares Bought by Rhenman & Partners Asset Management AB

Rhenman & Partners Asset Management AB raised its stake in Alkermes plc (NASDAQ:ALKS) by 41.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 133,250 shares of the company’s stock after purchasing an additional 39,250 shares during the quarter. Rhenman & Partners Asset Management AB’s holdings in Alkermes were worth $3,728,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ALKS. Sanctuary Advisors LLC raised its stake in shares of Alkermes by 2.7% in the 4th quarter. Sanctuary Advisors LLC now owns 12,141 shares of the company’s stock valued at $340,000 after acquiring an additional 315 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Alkermes by 3.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,326 shares of the company’s stock valued at $289,000 after acquiring an additional 351 shares during the period. Orion Porfolio Solutions LLC raised its stake in shares of Alkermes by 4.5% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 8,762 shares of the company’s stock valued at $263,000 after acquiring an additional 376 shares during the period. Horizon Investments LLC raised its stake in shares of Alkermes by 0.9% in the 3rd quarter. Horizon Investments LLC now owns 43,002 shares of the company’s stock valued at $1,290,000 after acquiring an additional 387 shares during the period. Finally, AMG National Trust Bank increased its stake in Alkermes by 0.6% during the 3rd quarter. AMG National Trust Bank now owns 60,175 shares of the company’s stock worth $1,805,000 after buying an additional 388 shares during the period. Institutional investors and hedge funds own 95.21% of the company’s stock.

Insider Transactions at Alkermes

In other news, EVP Craig C. Hopkinson sold 9,000 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $41.67, for a total value of $375,030.00. Following the completion of the sale, the executive vice president owned 77,389 shares of the company’s stock, valued at approximately $3,224,799.63. The trade was a 10.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christopher I. Wright sold 2,000 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $45.10, for a total transaction of $90,200.00. Following the completion of the sale, the director directly owned 25,680 shares of the company’s stock, valued at $1,158,168. The trade was a 7.23% 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. In the last 90 days, insiders sold 35,102 shares of company stock valued at $1,310,828. Insiders own 4.59% of the company’s stock.

Alkermes Stock Performance

Alkermes stock opened at $44.28 on Friday. Alkermes plc has a 12-month low of $25.17 and a 12-month high of $45.76. The company has a market capitalization of $7.38 billion, a price-to-earnings ratio of 49.20 and a beta of 0.38. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.27 and a quick ratio of 1.70. The firm’s fifty day moving average price is $37.10 and its 200 day moving average price is $32.71.

Alkermes (NASDAQ:ALKS) last released its earnings results on Saturday, February 14th. The company reported $0.29 earnings per share for the quarter. The company 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, research analysts forecast that Alkermes plc will post -0.43 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on ALKS. Wall Street Zen downgraded shares of Alkermes from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Robert W. Baird lifted their price target 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. 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 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. Finally, Needham & Company LLC lifted their price target on shares of Alkermes from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $46.13.

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.