Alkermes plc $ALKS Holdings Raised by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA increased its stake in Alkermes plc (NASDAQ:ALKS) by 20.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,009,318 shares of the company’s stock after purchasing an additional 171,292 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Alkermes were worth $41,012,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its stake in shares of Alkermes by 2.5% during the first 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. Commodore Capital LP raised its holdings in Alkermes by 18.3% during the first quarter. Commodore Capital LP now owns 4,200,000 shares of the company’s stock worth $148,512,000 after purchasing an additional 650,000 shares in the last quarter. First Trust Advisors LP raised its holdings in Alkermes by 104.2% during the first quarter. First Trust Advisors LP now owns 2,968,785 shares of the company’s stock worth $104,976,000 after purchasing an additional 1,514,783 shares in the last quarter. Affinity Asset Advisors LLC lifted its position in Alkermes by 35.0% in the first quarter. Affinity Asset Advisors LLC now owns 1,350,000 shares of the company’s stock worth $47,736,000 after purchasing an additional 350,000 shares during the period. Finally, Principal Financial Group Inc. lifted its position in Alkermes by 1.1% in the first quarter. Principal Financial Group Inc. now owns 958,016 shares of the company’s stock worth $33,875,000 after purchasing an additional 10,393 shares during the period. Institutional investors own 95.21% of the company’s stock.

Insiders Place Their Bets

In other Alkermes news, EVP Craig Hopkinson sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $46.99, for a total value of $422,910.00. Following the completion of the transaction, the executive vice president directly owned 65,389 shares in the company, valued at $3,072,629.11. This trade represents a 12.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Christian Nichols sold 7,576 shares of Alkermes stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $49.23, for a total transaction of $372,966.48. Following the completion of the transaction, the senior vice president directly owned 102,193 shares in the company, valued at approximately $5,030,961.39. This trade represents a 6.90% 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. In the last quarter, insiders have sold 22,679 shares of company stock worth $1,070,940. Company insiders own 4.59% of the company’s stock.

Alkermes Stock Performance

Shares of NASDAQ ALKS opened at $46.47 on Wednesday. The company has a quick ratio of 2.02, a current ratio of 2.42 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $7.81 billion, a price-to-earnings ratio of -2,322.34 and a beta of 0.32. The stock’s fifty day simple moving average is $43.67 and its 200 day simple moving average is $40.92. Alkermes plc has a 52-week low of $27.00 and a 52-week high of $55.67.

Alkermes (NASDAQ:ALKS) last announced its earnings results on Tuesday, November 3rd. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.17. Alkermes had a positive return on equity of 0.40% and a negative net margin of 0.02%. The company had revenue of $480.13 million for the quarter, compared to analyst estimates of $463.48 million. During the same period in the previous year, the firm earned $0.49 earnings per share. Alkermes’s revenue for the quarter was up 21.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Alkermes plc will post -0.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Mizuho upgraded Alkermes to a “strong-buy” rating in a research report on Wednesday, September 16th. The Goldman Sachs Group initiated coverage on Alkermes in a research note on Thursday, September 24th. They issued a “neutral” rating and a $50.00 price objective on the stock. Royal Bank Of Canada upped their price objective on Alkermes from $56.00 to $57.00 and gave the company an “outperform” rating in a report on Wednesday, November 4th. Truist Financial started coverage on Alkermes in a research note on Friday, October 16th. They set a “buy” rating and a $55.00 target price for the company. Finally, JPMorgan Chase & Co. lifted their target price on Alkermes from $60.00 to $61.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $55.06.

Alkermes Company Profile

Alkermes plc is a biopharmaceutical company focused on developing and commercializing medicines for neuroscience-related conditions, including serious mental illness and addiction. Founded in 1987, the company has operations in the United States and Ireland, with its corporate headquarters in Dublin and major U.S. operations in Massachusetts. Its marketed medicines include Vivitrol, an extended-release injectable formulation of naltrexone used to treat alcohol dependence and to prevent relapse to opioid dependence after detoxification; Aristada, an injectable treatment for schizophrenia in adults; and Lybalvi, a medicine for schizophrenia and bipolar I disorder in adults.