84,103 Shares in Alkermes plc $ALKS Purchased by Exome Asset Management LLC

Exome Asset Management LLC purchased a new stake in Alkermes plc (NASDAQ:ALKS) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 84,103 shares of the company’s stock, valued at approximately $2,974,000. Alkermes makes up about 1.5% of Exome Asset Management LLC’s portfolio, making the stock its 22nd largest holding. Exome Asset Management LLC owned approximately 0.05% of Alkermes at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Sanctuary Advisors LLC increased 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 worth $340,000 after purchasing an additional 315 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Alkermes by 3.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,326 shares of the company’s stock valued at $289,000 after purchasing an additional 351 shares during the last quarter. Orion Porfolio Solutions LLC lifted its position in Alkermes by 4.5% during the third quarter. Orion Porfolio Solutions LLC now owns 8,762 shares of the company’s stock valued at $263,000 after purchasing an additional 376 shares during the last quarter. Horizon Investments LLC grew its stake in Alkermes by 0.9% in the 3rd quarter. Horizon Investments LLC now owns 43,002 shares of the company’s stock worth $1,290,000 after buying an additional 387 shares in the last quarter. Finally, Tidal Investments LLC grew its stake in Alkermes by 1.1% in the 2nd quarter. Tidal Investments LLC now owns 35,130 shares of the company’s stock worth $1,005,000 after buying an additional 395 shares in the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Insiders Place Their Bets

In other Alkermes news, EVP David Joseph Gaffin sold 2,034 shares of the business’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 owned 229,524 shares in the company, valued at approximately $9,881,008.20. The trade was a 0.88% decrease in their ownership of the stock. 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, Director Christopher I. Wright sold 2,000 shares of the stock in a transaction that occurred 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 sale, the director directly 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. 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 in the last ninety days. Company insiders own 4.59% of the company’s stock.

Alkermes Trading Down 0.3%

NASDAQ ALKS opened at $52.73 on Tuesday. The firm has a market cap of $8.79 billion, a PE ratio of 58.59 and a beta of 0.34. Alkermes plc has a 1-year low of $25.17 and a 1-year high of $55.67. The stock has a 50-day moving average of $47.24 and a 200-day moving average of $37.67. The company has a current ratio of 2.27, a quick ratio of 1.70 and a debt-to-equity ratio of 0.85.

Analyst Ratings Changes

Several analysts have recently weighed in on ALKS shares. Wells Fargo & Company raised their price objective on shares of Alkermes from $44.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, June 29th. Bank of America reiterated an “underperform” rating on shares of Alkermes in a research report on Monday, June 29th. TD Cowen increased their target price on Alkermes from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, June 22nd. Robert W. Baird raised their price target on Alkermes from $45.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $63.00 price target (up from $45.00) on shares of Alkermes in a research note on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $52.50.

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.