Alkermes plc $ALKS Shares Sold by Avoro Capital Advisors LLC

Avoro Capital Advisors LLC lessened its holdings in shares of Alkermes plc (NASDAQ:ALKS) by 37.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,400,000 shares of the company’s stock after selling 840,000 shares during the quarter. Alkermes accounts for 0.4% of Avoro Capital Advisors LLC’s portfolio, making the stock its 26th largest position. Avoro Capital Advisors LLC’s holdings in Alkermes were worth $39,172,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ALKS. Assetmark Inc. grew its stake in Alkermes by 933.8% during the 3rd quarter. Assetmark Inc. now owns 827 shares of the company’s stock valued at $25,000 after purchasing an additional 747 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new stake in Alkermes during the 4th quarter valued at approximately $28,000. Johnson Financial Group Inc. acquired a new stake in Alkermes during the 3rd quarter valued at approximately $31,000. UMB Bank n.a. grew its stake in Alkermes by 57.6% during the 4th quarter. UMB Bank n.a. now owns 1,220 shares of the company’s stock valued at $34,000 after purchasing an additional 446 shares in the last quarter. Finally, Salomon & Ludwin LLC grew its stake in Alkermes by 115.6% during the 4th quarter. Salomon & Ludwin LLC now owns 1,244 shares of the company’s stock valued at $35,000 after purchasing an additional 667 shares in the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Wall Street Zen downgraded Alkermes from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Robert W. Baird increased their target price on Alkermes from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. HC Wainwright reaffirmed a “neutral” rating and set a $43.00 target price on shares of Alkermes in a report on Thursday, February 26th. Royal Bank Of Canada increased their target price on Alkermes from $45.00 to $56.00 and gave the stock an “outperform” rating in a report on Tuesday, June 9th. Finally, UBS Group increased their target price on Alkermes from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. One research 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $46.13.

Insider Buying and Selling

In related news, Director Christopher I. Wright sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $45.10, for a total value of $90,200.00. Following the sale, the director owned 25,680 shares of the company’s stock, valued at approximately $1,158,168. This trade represents a 7.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through 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 firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $43.05, for a total value of $87,563.70. Following the completion of the sale, the executive vice president directly owned 229,524 shares in the company, valued at approximately $9,881,008.20. This trade represents a 0.88% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 35,102 shares of company stock valued at $1,310,828. Insiders own 4.59% of the company’s stock.

Alkermes Trading Down 0.6%

NASDAQ:ALKS opened at $44.09 on Wednesday. The company has a quick ratio of 1.70, a current ratio of 2.27 and a debt-to-equity ratio of 0.85. The business’s 50 day moving average is $37.47 and its two-hundred day moving average is $32.96. Alkermes plc has a 52 week low of $25.17 and a 52 week high of $45.76. The company has a market cap of $7.35 billion, a PE ratio of 48.99 and a beta of 0.38.

Alkermes (NASDAQ:ALKS) last released its earnings results on Saturday, February 14th. The company reported $0.29 EPS for the quarter. The company had revenue of $384.55 million for the quarter. Alkermes had a return on equity of 9.26% and a net margin of 9.78%. On average, analysts predict that Alkermes plc will post -0.43 EPS 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.