UBS Group AG Boosts Stake in Alkermes plc $ALKS

UBS Group AG raised its holdings in Alkermes plc (NASDAQ:ALKS) by 237.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 2,544,895 shares of the company’s stock after buying an additional 1,790,729 shares during the quarter. UBS Group AG’s holdings in Alkermes were worth $71,206,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ALKS. Assetmark Inc. boosted its holdings in Alkermes by 933.8% during the third quarter. Assetmark Inc. now owns 827 shares of the company’s stock worth $25,000 after buying an additional 747 shares in the last quarter. Johnson Financial Group Inc. purchased a new stake in shares of Alkermes during the 3rd quarter worth approximately $31,000. Salomon & Ludwin LLC grew its holdings in shares of Alkermes by 115.6% in the 4th quarter. Salomon & Ludwin LLC now owns 1,244 shares of the company’s stock worth $35,000 after acquiring an additional 667 shares during the period. Hantz Financial Services Inc. increased its stake in Alkermes by 395.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,239 shares of the company’s stock valued at $37,000 after purchasing an additional 989 shares in the last quarter. Finally, Osaic Holdings Inc. raised its holdings in Alkermes by 56.4% during the second quarter. Osaic Holdings Inc. now owns 1,945 shares of the company’s stock worth $56,000 after purchasing an additional 701 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 topic of several research reports. Weiss Ratings raised Alkermes from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, April 27th. Bank of America lifted their price target on Alkermes from $34.00 to $36.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. Wells Fargo & Company increased their price objective on shares of Alkermes from $37.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. Piper Sandler dropped their target price on shares of Alkermes from $45.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, March 24th. Finally, Wall Street Zen cut shares of Alkermes from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $44.29.

Insiders Place Their Bets

In related news, SVP Christian Todd Nichols sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $30.00, for a total transaction of $180,000.00. Following the transaction, the senior vice president owned 109,769 shares of the company’s stock, valued at approximately $3,293,070. This represents a 5.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Craig C. Hopkinson sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $33.40, for a total transaction of $300,600.00. Following the sale, the executive vice president owned 81,389 shares in the company, valued at approximately $2,718,392.60. This trade represents a 9.96% 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 37,068 shares of company stock valued at $1,197,561 in the last ninety days. Insiders own 4.59% of the company’s stock.

Alkermes Price Performance

NASDAQ ALKS opened at $33.38 on Monday. Alkermes plc has a fifty-two week low of $25.17 and a fifty-two week high of $36.48. The stock has a market cap of $5.55 billion, a price-to-earnings ratio of 23.34 and a beta of 0.31. The business has a fifty day moving average of $31.44 and a 200-day moving average of $30.95.

Alkermes (NASDAQ:ALKS) last posted its quarterly earnings data on Saturday, February 14th. The company reported $0.29 EPS for the quarter. The business had revenue of $384.55 million for the quarter. Alkermes had a return on equity of 14.91% and a net margin of 16.37%. As a group, analysts anticipate that Alkermes plc will post -0.69 EPS for the current year.

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.