Alkermes plc $ALKS Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management reduced its holdings in shares of Alkermes plc (NASDAQ:ALKS) by 28.5% in the 1st quarter, HoldingsChannel.com reports. The fund owned 45,844 shares of the company’s stock after selling 18,264 shares during the period. Ritholtz Wealth Management’s holdings in Alkermes were worth $1,621,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Sanctuary Advisors LLC grew its position in shares of Alkermes by 2.7% in the fourth quarter. Sanctuary Advisors LLC now owns 12,141 shares of the company’s stock valued at $340,000 after purchasing an additional 315 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Alkermes by 3.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,326 shares of the company’s stock worth $289,000 after purchasing an additional 351 shares during the last quarter. Orion Porfolio Solutions LLC raised its position in shares of Alkermes by 4.5% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 8,762 shares of the company’s stock worth $263,000 after purchasing an additional 376 shares during the last quarter. Horizon Investments LLC lifted its stake in 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 buying an additional 387 shares in the last quarter. Finally, Tidal Investments LLC grew its holdings in Alkermes by 1.1% during the 2nd quarter. Tidal Investments LLC now owns 35,130 shares of the company’s stock valued at $1,005,000 after buying an additional 395 shares during the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.

Wall Street Analysts Forecast Growth

ALKS has been the subject of several recent research reports. Needham & Company LLC raised their price target on Alkermes from $54.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday. Truist Financial raised Alkermes to a “strong-buy” rating in a research note on Wednesday, March 25th. Wall Street Zen cut Alkermes from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. 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, Zacks Research raised shares of Alkermes from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.06.

Alkermes Stock Performance

Alkermes stock opened at $55.08 on Friday. The company has a market cap of $9.18 billion, a price-to-earnings ratio of 61.20 and a beta of 0.38. Alkermes plc has a 12 month low of $25.17 and a 12 month high of $55.28. 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 stock’s 50-day moving average is $39.79 and its 200-day moving average is $34.00.

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

Insider Buying and Selling at Alkermes

In other Alkermes news, EVP Craig C. Hopkinson sold 9,000 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $35.51, for a total value of $319,590.00. Following the transaction, the executive vice president directly owned 85,389 shares of the company’s stock, valued at $3,032,163.39. This trade represents a 9.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP David Joseph Gaffin sold 2,034 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $33.20, for a total value of $67,528.80. Following the transaction, the executive vice president directly owned 231,558 shares in the company, valued at $7,687,725.60. This trade 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 have sold a total of 35,102 shares of company stock valued at $1,310,828 over the last ninety days. Corporate insiders own 4.59% of the company’s stock.

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.