Geode Capital Management LLC Buys 19,382 Shares of Alkermes plc $ALKS

Geode Capital Management LLC grew its stake in Alkermes plc (NASDAQ:ALKS) by 0.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,080,776 shares of the company’s stock after purchasing an additional 19,382 shares during the quarter. Geode Capital Management LLC’s holdings in Alkermes were worth $114,198,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ALKS. UBS Group AG raised its holdings in Alkermes by 237.4% in the 4th quarter. UBS Group AG now owns 2,544,895 shares of the company’s stock worth $71,206,000 after purchasing an additional 1,790,729 shares in the last quarter. Baker BROS. Advisors LP raised its holdings in Alkermes by 26.2% in the 3rd quarter. Baker BROS. Advisors LP now owns 8,091,351 shares of the company’s stock worth $242,741,000 after purchasing an additional 1,680,748 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Alkermes by 1,070.6% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,208,944 shares of the company’s stock worth $36,268,000 after purchasing an additional 1,105,666 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Alkermes by 787.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,135,478 shares of the company’s stock worth $32,486,000 after purchasing an additional 1,007,488 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in Alkermes by 20.2% in the 3rd quarter. American Century Companies Inc. now owns 4,397,471 shares of the company’s stock worth $131,924,000 after purchasing an additional 740,248 shares in the last quarter. 95.21% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Craig C. Hopkinson sold 9,000 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $33.40, for a total transaction of $300,600.00. Following the sale, the executive vice president directly owned 81,389 shares of the company’s stock, valued at approximately $2,718,392.60. This represents a 9.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed 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 stock in a transaction dated Thursday, June 4th. The shares were 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 in the company, valued at $9,881,008.20. This trade represents a 0.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 33,102 shares of company stock valued at $1,220,628. 4.59% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ALKS. Royal Bank Of Canada decreased their price objective on shares of Alkermes from $47.00 to $45.00 and set an “outperform” rating for the company in a report on Thursday, February 26th. HC Wainwright restated a “neutral” rating and issued a $43.00 price objective on shares of Alkermes in a report on Thursday, February 26th. Bank of America upped their price objective on shares of Alkermes from $34.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. Truist Financial upgraded shares of Alkermes to a “strong-buy” rating in a research note on Wednesday, March 25th. Finally, Wall Street Zen lowered shares of Alkermes from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. One investment 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, Alkermes presently has an average rating of “Moderate Buy” and a consensus price target of $45.40.

Alkermes Stock Down 1.3%

Shares of Alkermes stock opened at $42.80 on Friday. 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 company has a 50-day moving average of $35.90 and a 200 day moving average of $32.19. The firm has a market cap of $7.13 billion, a price-to-earnings ratio of 47.56 and a beta of 0.38. Alkermes plc has a 1 year low of $25.17 and a 1 year high of $44.57.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings results on Saturday, February 14th. The company reported $0.29 earnings per share (EPS) 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%. As a group, sell-side analysts anticipate 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.