PSP Research LLC Purchases New Stake in Alkermes plc $ALKS

PSP Research LLC purchased a new stake in Alkermes plc (NASDAQ:ALKS) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,280 shares of the company’s stock, valued at approximately $539,000. Alkermes makes up approximately 0.5% of PSP Research LLC’s portfolio, making the stock its 24th largest position.

Other institutional investors have also recently added to or reduced their stakes in the company. Assetmark Inc. raised its holdings in Alkermes by 933.8% in the third quarter. Assetmark Inc. now owns 827 shares of the company’s stock valued at $25,000 after acquiring an additional 747 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new stake in Alkermes in the fourth quarter valued at $28,000. Johnson Financial Group Inc. acquired a new stake in Alkermes in the third quarter valued at $31,000. Hantz Financial Services Inc. raised its holdings in Alkermes by 395.6% in the third quarter. Hantz Financial Services Inc. now owns 1,239 shares of the company’s stock valued at $37,000 after acquiring an additional 989 shares in the last quarter. Finally, Salomon & Ludwin LLC raised its holdings 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 in the last quarter. 95.21% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alkermes

In related news, SVP Christian Todd Nichols sold 6,000 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $30.00, for a total value of $180,000.00. Following the completion of the transaction, the senior vice president owned 109,769 shares in the company, valued at $3,293,070. This represents a 5.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP David Joseph Gaffin sold 2,034 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $33.20, for a total transaction of $67,528.80. Following the completion of the transaction, the executive vice president owned 231,558 shares of the company’s stock, valued at $7,687,725.60. This represents a 0.87% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 39,102 shares of company stock worth $1,265,090. Insiders own 4.59% of the company’s stock.

Alkermes Stock Down 0.5%

Shares of NASDAQ:ALKS opened at $37.00 on Wednesday. The stock has a market capitalization of $6.17 billion, a price-to-earnings ratio of 41.11 and a beta of 0.31. Alkermes plc has a 1-year low of $25.17 and a 1-year high of $39.56. The company’s fifty day moving average is $32.83 and its two-hundred day moving average is $31.41. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.70 and a current ratio of 2.27.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings results on Saturday, February 14th. The company reported $0.29 EPS for the quarter. The business had revenue of $384.55 million during the quarter. Alkermes had a net margin of 9.78% and a return on equity of 9.26%. Equities analysts anticipate that Alkermes plc will post -0.42 EPS for the current year.

Wall Street Analyst Weigh In

ALKS has been the topic of several recent analyst reports. Bank of America upped their price target on shares of Alkermes from $34.00 to $36.00 and gave the company a “neutral” rating in a report on Thursday, April 9th. HC Wainwright reissued a “neutral” rating and set a $43.00 target price on shares of Alkermes in a report on Thursday, February 26th. Zacks Research raised shares of Alkermes from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. UBS Group increased their target price on shares of Alkermes from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Finally, Weiss Ratings cut shares of Alkermes from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $45.40.

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.