Entropy Technologies LP Grows Holdings in Alkermes plc $ALKS

Entropy Technologies LP raised its position in Alkermes plc (NASDAQ:ALKS) by 173.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 63,724 shares of the company’s stock after purchasing an additional 40,433 shares during the period. Entropy Technologies LP’s holdings in Alkermes were worth $1,783,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC increased its holdings in Alkermes by 1.5% in the fourth quarter. Barclays PLC now owns 565,033 shares of the company’s stock valued at $15,810,000 after buying an additional 8,382 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Alkermes by 20.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,450,841 shares of the company’s stock valued at $40,595,000 after buying an additional 241,897 shares in the last quarter. Marshall Wace LLP purchased a new position in Alkermes in the fourth quarter valued at $3,635,000. Segall Bryant & Hamill LLC increased its holdings in Alkermes by 3.2% in the fourth quarter. Segall Bryant & Hamill LLC now owns 615,292 shares of the company’s stock valued at $17,216,000 after buying an additional 18,813 shares in the last quarter. Finally, Bridgewater Associates LP purchased a new position in Alkermes in the fourth quarter valued at $9,638,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ALKS shares. Wall Street Zen cut shares of Alkermes from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. UBS Group lifted their price objective on shares of Alkermes from $42.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Needham & Company LLC lifted their price objective on shares of Alkermes from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Royal Bank Of Canada lifted their price objective on shares of Alkermes from $45.00 to $56.00 and gave the company an “outperform” rating in a report on Tuesday, June 9th. Finally, Zacks Research raised shares of Alkermes from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Alkermes presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.13.

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 transaction 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 $3,224,799.63. The trade was a 10.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 dated Thursday, June 4th. The stock was sold at an average price of $43.05, for a total transaction of $87,563.70. Following the sale, the executive vice president directly owned 229,524 shares of the company’s stock, valued at $9,881,008.20. This represents a 0.88% decrease in their position. 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 35,102 shares of company stock valued at $1,310,828 over the last 90 days. Corporate insiders own 4.59% of the company’s stock.

Alkermes Stock Up 0.2%

ALKS stock opened at $44.36 on Tuesday. The stock has a market capitalization of $7.39 billion, a P/E ratio of 49.29 and a beta of 0.38. The firm has a 50-day simple moving average of $37.29 and a 200-day simple moving average of $32.85. The company has a quick ratio of 1.70, a current ratio of 2.27 and a debt-to-equity ratio of 0.85. Alkermes plc has a 52 week low of $25.17 and a 52 week high of $45.76.

Alkermes (NASDAQ:ALKS) last released its earnings results 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%. Equities analysts forecast that Alkermes plc will post -0.43 earnings per share for the current fiscal year.

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.