Alkermes plc $ALKS Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd trimmed its position in shares of Alkermes plc (NASDAQ:ALKS) by 61.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 53,067 shares of the company’s stock after selling 85,366 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Alkermes were worth $1,592,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Capital Fund Management S.A. bought a new position in Alkermes in the second quarter valued at approximately $1,142,000. EcoR1 Capital LLC acquired a new position in shares of Alkermes in the 2nd quarter valued at approximately $14,305,000. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Alkermes by 18.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 134,387 shares of the company’s stock valued at $4,032,000 after buying an additional 21,067 shares during the period. Frazier Life Sciences Management L.P. increased its holdings in Alkermes by 66.5% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 1,000,647 shares of the company’s stock worth $28,629,000 after purchasing an additional 399,518 shares in the last quarter. Finally, Magnetar Financial LLC bought a new position in shares of Alkermes during the second quarter worth about $3,538,000. Institutional investors and hedge funds own 95.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ALKS shares. Piper Sandler reiterated an “overweight” rating and set a $45.00 price objective (up previously from $38.00) on shares of Alkermes in a research note on Thursday, October 23rd. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Alkermes from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Needham & Company LLC increased their price target on shares of Alkermes from $43.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Zacks Research upgraded shares of Alkermes from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 13th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Alkermes in a report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.69.

Insiders Place Their Bets

In other news, EVP Craig C. Hopkinson sold 5,000 shares of the business’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $30.00, for a total transaction of $150,000.00. Following the sale, the executive vice president directly owned 61,740 shares in the company, valued at approximately $1,852,200. The trade was a 7.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last 90 days, insiders sold 25,748 shares of company stock worth $765,060. Insiders own 4.40% of the company’s stock.

Alkermes Trading Down 2.8%

Shares of NASDAQ:ALKS opened at $33.89 on Friday. The firm has a 50 day moving average of $29.82 and a 200-day moving average of $29.38. Alkermes plc has a 12 month low of $25.17 and a 12 month high of $36.45. The stock has a market capitalization of $5.60 billion, a PE ratio of 16.78 and a beta of 0.48.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.08. Alkermes had a return on equity of 21.81% and a net margin of 22.27%.The business had revenue of $394.19 million during the quarter, compared to the consensus estimate of $355.23 million. During the same period in the prior year, the company earned $0.73 EPS. Alkermes’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, research analysts predict that Alkermes plc will post 1.31 EPS for the current fiscal year.

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.