Pacer Advisors Inc. Sells 133,258 Shares of Alkermes plc $ALKS

Pacer Advisors Inc. cut its holdings in shares of Alkermes plc (NASDAQ:ALKS) by 16.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 674,874 shares of the company’s stock after selling 133,258 shares during the quarter. Pacer Advisors Inc.’s holdings in Alkermes were worth $18,883,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ALKS. Assetmark Inc. grew its position in Alkermes by 933.8% during the third quarter. Assetmark Inc. now owns 827 shares of the company’s stock valued at $25,000 after buying an additional 747 shares during the period. Cullen Frost Bankers Inc. purchased a new stake in Alkermes during the fourth quarter worth about $28,000. Johnson Financial Group Inc. bought a new stake in Alkermes in the third quarter worth about $31,000. UMB Bank n.a. raised its position in Alkermes by 57.6% in the fourth quarter. UMB Bank n.a. now owns 1,220 shares of the company’s stock worth $34,000 after acquiring an additional 446 shares during the period. Finally, Salomon & Ludwin LLC boosted its stake 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 acquiring an additional 667 shares during the last quarter. 95.21% of the stock is currently owned by institutional investors.

Alkermes Price Performance

ALKS opened at $44.99 on Friday. The firm has a 50-day moving average price of $38.13 and a 200-day moving average price of $33.25. Alkermes plc has a twelve month low of $25.17 and a twelve month high of $45.76. 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 capitalization of $7.50 billion, a price-to-earnings ratio of 49.99 and a beta of 0.38.

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

Analysts Set New Price Targets

ALKS has been the subject of several research analyst reports. Piper Sandler decreased their price target on shares of Alkermes from $45.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, March 24th. Royal Bank Of Canada increased their price objective on Alkermes from $45.00 to $56.00 and gave the company an “outperform” rating in a report on Tuesday, June 9th. Wall Street Zen downgraded Alkermes from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Weiss Ratings lowered Alkermes from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Finally, UBS Group upped their price target on Alkermes from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $46.40.

Insider Buying and Selling at Alkermes

In other Alkermes news, EVP Craig C. Hopkinson sold 9,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $41.67, for a total transaction of $375,030.00. Following the sale, the executive vice president owned 77,389 shares in the company, valued at $3,224,799.63. This represents a 10.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP David Joseph Gaffin sold 2,034 shares of the firm’s stock in a transaction 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 transaction, the executive vice president directly owned 229,524 shares of the company’s stock, valued at $9,881,008.20. The trade was a 0.88% 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 35,102 shares of company stock valued at $1,310,828 in the last 90 days. 4.59% of the stock is currently owned by company insiders.

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.