Teachers Retirement System of The State of Kentucky Grows Position in Alkermes plc $ALKS

Teachers Retirement System of The State of Kentucky lifted its position in shares of Alkermes plc (NASDAQ:ALKS) by 18.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,928 shares of the company’s stock after purchasing an additional 12,165 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Alkermes were worth $2,756,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Cullen Frost Bankers Inc. purchased a new stake in Alkermes during the fourth quarter worth $28,000. Johnson Financial Group Inc. acquired a new stake in Alkermes during the third quarter valued at $31,000. UMB Bank n.a. increased its holdings in Alkermes by 57.6% in the fourth quarter. UMB Bank n.a. now owns 1,220 shares of the company’s stock valued at $34,000 after buying an additional 446 shares in the last quarter. Salomon & Ludwin LLC increased its holdings in Alkermes by 115.6% in the fourth quarter. Salomon & Ludwin LLC now owns 1,244 shares of the company’s stock valued at $35,000 after buying an additional 667 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Alkermes by 1,041.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,324 shares of the company’s stock worth $37,000 after acquiring an additional 1,208 shares during the period. 95.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ALKS shares. Truist Financial raised shares of Alkermes to a “strong-buy” rating in a research note on Wednesday, March 25th. Robert W. Baird lifted their price target on Alkermes from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. HC Wainwright reaffirmed a “neutral” rating on shares of Alkermes in a report on Thursday, June 18th. JPMorgan Chase & Co. assumed coverage on Alkermes in a research report on Monday. They set a “neutral” rating and a $60.00 price target on the stock. Finally, Mizuho raised their price objective on Alkermes from $53.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Alkermes currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.80.

Alkermes Price Performance

NASDAQ:ALKS opened at $51.60 on Wednesday. Alkermes plc has a 12 month low of $25.17 and a 12 month high of $55.67. The stock has a 50 day moving average of $44.42 and a two-hundred day moving average of $36.13. The company has a current ratio of 2.27, a quick ratio of 1.70 and a debt-to-equity ratio of 0.85. The firm has a market cap of $8.60 billion, a P/E ratio of 57.33 and a beta of 0.34.

Alkermes (NASDAQ:ALKS) last announced 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 return on equity of 9.26% and a net margin of 9.78%. On average, analysts expect that Alkermes plc will post -0.42 earnings per share for the current fiscal year.

Insider Transactions at Alkermes

In related news, EVP Craig C. Hopkinson sold 9,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $51.51, for a total transaction of $463,590.00. Following the completion of the sale, the executive vice president directly owned 73,389 shares in the company, valued at approximately $3,780,267.39. The trade was a 10.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 stock in a transaction on Friday, June 12th. The shares were sold at an average price of $45.10, for a total value of $90,200.00. Following the completion of the transaction, the director directly owned 25,680 shares of the company’s stock, valued at approximately $1,158,168. This represents a 7.23% decrease in their ownership of the stock. 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 have sold 35,102 shares of company stock valued at $1,494,410 over the last ninety days. 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.