Eagle Health Investments LP Purchases 156,873 Shares of Alkermes plc $ALKS

Eagle Health Investments LP boosted its position in Alkermes plc (NASDAQ:ALKS) by 191.8% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 238,673 shares of the company’s stock after purchasing an additional 156,873 shares during the period. Alkermes makes up approximately 1.5% of Eagle Health Investments LP’s holdings, making the stock its 22nd largest holding. Eagle Health Investments LP’s holdings in Alkermes were worth $8,439,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in ALKS. Baker BROS. Advisors LP lifted its position in shares of Alkermes by 23.7% during the 4th quarter. Baker BROS. Advisors LP now owns 10,012,267 shares of the company’s stock valued at $280,143,000 after buying an additional 1,920,916 shares during the last quarter. State Street Corp grew its stake in shares of Alkermes by 10.9% during the 4th quarter. State Street Corp now owns 9,472,858 shares of the company’s stock worth $265,051,000 after acquiring an additional 932,507 shares during the period. Renaissance Technologies LLC increased its holdings in Alkermes by 6.0% in the 4th quarter. Renaissance Technologies LLC now owns 6,668,028 shares of the company’s stock worth $186,571,000 after acquiring an additional 375,500 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Alkermes by 32.0% in the 4th quarter. JPMorgan Chase & Co. now owns 5,184,547 shares of the company’s stock valued at $145,064,000 after acquiring an additional 1,256,377 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Alkermes by 2.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,522,378 shares of the company’s stock valued at $159,850,000 after acquiring an additional 109,595 shares during the period. 95.21% of the stock is currently owned by institutional investors.

Alkermes Stock Down 0.3%

Shares of NASDAQ ALKS opened at $52.73 on Tuesday. 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 company has a market cap of $8.79 billion, a P/E ratio of 58.59 and a beta of 0.34. Alkermes plc has a 52 week low of $25.17 and a 52 week high of $55.67. The business has a 50-day simple moving average of $47.24 and a two-hundred day simple moving average of $37.67.

Insider Transactions at Alkermes

In other news, EVP David Joseph Gaffin sold 2,034 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $54.03, for a total value of $109,897.02. Following the completion of the transaction, the executive vice president directly owned 227,490 shares in the company, valued at approximately $12,291,284.70. This trade represents a 0.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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, EVP Craig C. Hopkinson sold 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $51.51, for a total transaction of $463,590.00. Following the completion of the transaction, the executive vice president owned 73,389 shares of the company’s stock, valued at $3,780,267.39. This trade represents a 10.92% 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 ninety days, insiders have sold 35,102 shares of company stock valued at $1,494,410. 4.59% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Needham & Company LLC increased their target price on shares of Alkermes from $61.00 to $62.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Weiss Ratings downgraded shares of Alkermes from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Bank of America reaffirmed an “underperform” rating on shares of Alkermes in a report on Monday, June 29th. Mizuho lifted their price objective on shares of Alkermes from $53.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, July 2nd. Finally, Zacks Research raised shares of Alkermes from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $52.50.

Alkermes 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.