Exome Asset Management LLC Takes Position in Alkermes plc $ALKS

Exome Asset Management LLC bought a new position in shares of Alkermes plc (NASDAQ:ALKS) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 84,103 shares of the company’s stock, valued at approximately $2,974,000. Alkermes accounts for 1.5% of Exome Asset Management LLC’s investment portfolio, making the stock its 22nd largest position.

Several other large investors also recently modified their holdings of ALKS. Cullen Frost Bankers Inc. bought a new position in Alkermes during the 4th quarter valued at approximately $28,000. Johnson Financial Group Inc. bought a new stake in shares of Alkermes in the 3rd quarter worth approximately $31,000. UMB Bank n.a. grew its position in shares of Alkermes by 57.6% in the 4th quarter. UMB Bank n.a. now owns 1,220 shares of the company’s stock worth $34,000 after buying an additional 446 shares during the last quarter. Salomon & Ludwin LLC increased its stake in shares of Alkermes by 115.6% during the fourth quarter. Salomon & Ludwin LLC now owns 1,244 shares of the company’s stock valued at $35,000 after buying an additional 667 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Alkermes by 1,041.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,324 shares of the company’s stock valued at $37,000 after buying an additional 1,208 shares during the period. 95.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ALKS has been the subject of a number of research analyst reports. HC Wainwright reaffirmed a “neutral” rating on shares of Alkermes in a research note on Thursday, June 18th. Wells Fargo & Company lifted their price target on shares of Alkermes from $44.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Weiss Ratings downgraded shares of Alkermes from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. initiated coverage on shares of Alkermes in a report on Monday, July 13th. They issued a “neutral” rating and a $60.00 price objective for the company. Finally, Zacks Research raised shares of Alkermes from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $52.50.

Insider Buying and Selling at Alkermes

In other news, EVP Craig C. Hopkinson sold 9,000 shares of Alkermes stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $51.51, for a total transaction of $463,590.00. Following the completion of the transaction, the executive vice president directly owned 73,389 shares in the company, valued at approximately $3,780,267.39. This trade represents a 10.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christopher I. Wright sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $45.10, for a total value of $90,200.00. Following the completion of the sale, the director directly owned 25,680 shares in the company, valued at approximately $1,158,168. This represents a 7.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 35,102 shares of company stock valued at $1,494,410. Corporate insiders own 4.59% of the company’s stock.

Alkermes Trading Down 0.3%

Shares of NASDAQ ALKS opened at $52.73 on Tuesday. Alkermes plc has a 1 year low of $25.17 and a 1 year high of $55.67. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.27 and a quick ratio of 1.70. The firm has a 50-day moving average of $47.24 and a 200 day moving average of $37.67. The stock has a market cap of $8.79 billion, a P/E ratio of 58.59 and a beta of 0.34.

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.