Alkermes plc $ALKS Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA grew its position in shares of Alkermes plc (NASDAQ:ALKS) by 65.4% during the fourth quarter, HoldingsChannel reports. The firm owned 1,477,214 shares of the company’s stock after buying an additional 584,168 shares during the period. Pictet Asset Management Holding SA’s holdings in Alkermes were worth $41,344,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. American Century Companies Inc. increased its stake in Alkermes by 20.2% during the 3rd quarter. American Century Companies Inc. now owns 4,397,471 shares of the company’s stock worth $131,924,000 after buying an additional 740,248 shares during the period. Victory Capital Management Inc. boosted its position in Alkermes by 43.1% in the 3rd quarter. Victory Capital Management Inc. now owns 344,202 shares of the company’s stock valued at $10,326,000 after buying an additional 103,749 shares during the last quarter. Public Sector Pension Investment Board boosted its position in Alkermes by 11.6% in the 3rd quarter. Public Sector Pension Investment Board now owns 710,700 shares of the company’s stock valued at $21,321,000 after buying an additional 73,787 shares during the last quarter. Artisan Partners Limited Partnership grew its stake in shares of Alkermes by 36.8% during the third quarter. Artisan Partners Limited Partnership now owns 2,109,772 shares of the company’s stock valued at $63,293,000 after acquiring an additional 567,965 shares in the last quarter. Finally, Tudor Investment Corp ET AL purchased a new stake in Alkermes during the 3rd quarter worth approximately $1,691,000. 95.21% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Alkermes

In other Alkermes news, SVP Christian Todd Nichols sold 6,000 shares of the firm’s stock in a transaction dated 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 trade represents a 5.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David Joseph Gaffin sold 2,034 shares of the business’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $34.57, for a total transaction of $70,315.38. Following the sale, the executive vice president owned 233,592 shares in the company, valued at $8,075,275.44. This trade represents a 0.86% 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. Insiders have sold 159,468 shares of company stock valued at $5,433,699 in the last ninety days. Company insiders own 4.59% of the company’s stock.

Alkermes Stock Down 1.3%

ALKS stock opened at $33.71 on Thursday. The firm’s 50-day simple moving average is $31.41 and its 200 day simple moving average is $30.94. The stock has a market cap of $5.60 billion, a PE ratio of 23.57 and a beta of 0.44. Alkermes plc has a fifty-two week low of $25.17 and a fifty-two week high of $36.48.

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

Analyst Ratings Changes

ALKS has been the topic of a number of research analyst reports. Wolfe Research began coverage on shares of Alkermes in a research note on Monday, February 23rd. They set an “outperform” rating and a $45.00 price objective on the stock. Piper Sandler cut their target price on shares of Alkermes from $45.00 to $43.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 24th. Royal Bank Of Canada reduced their price target on shares of Alkermes from $47.00 to $45.00 and set an “outperform” rating on the stock in a research report on Thursday, February 26th. 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. Finally, Zacks Research upgraded shares of Alkermes from a “strong sell” rating to a “hold” rating in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Alkermes presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.07.

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.