SG Americas Securities LLC grew its position in shares of Alkermes plc (NASDAQ:ALKS – Free Report) by 470.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 86,095 shares of the company’s stock after buying an additional 70,993 shares during the quarter. SG Americas Securities LLC owned approximately 0.05% of Alkermes worth $2,427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in ALKS. Neo Ivy Capital Management bought a new stake in Alkermes in the second quarter worth approximately $27,000. China Universal Asset Management Co. Ltd. increased its holdings in shares of Alkermes by 33.4% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 2,227 shares of the company’s stock valued at $63,000 after acquiring an additional 558 shares during the last quarter. Lazard Asset Management LLC bought a new position in shares of Alkermes in the 1st quarter valued at approximately $72,000. Federated Hermes Inc. raised its stake in shares of Alkermes by 31.2% in the 3rd quarter. Federated Hermes Inc. now owns 4,166 shares of the company’s stock valued at $93,000 after acquiring an additional 991 shares in the last quarter. Finally, State of Wyoming acquired a new stake in Alkermes in the 4th quarter worth approximately $115,000. Institutional investors own 99.39% of the company’s stock.
Insider Activity at Alkermes
In other Alkermes news, Director Cato T. Laurencin sold 2,800 shares of Alkermes stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $31.50, for a total transaction of $88,200.00. Following the completion of the transaction, the director now directly owns 7,479 shares of the company’s stock, valued at $235,588.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, SVP Christian Todd Nichols sold 27,134 shares of the firm’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $28.93, for a total transaction of $784,986.62. Following the completion of the sale, the senior vice president now directly owns 40,984 shares of the company’s stock, valued at approximately $1,185,667.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Cato T. Laurencin sold 2,800 shares of the business’s stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $31.50, for a total value of $88,200.00. Following the completion of the transaction, the director now directly owns 7,479 shares in the company, valued at approximately $235,588.50. The disclosure for this sale can be found here. Insiders have sold a total of 71,184 shares of company stock valued at $2,161,837 in the last 90 days. 4.76% of the stock is owned by corporate insiders.
Alkermes Price Performance
Alkermes (NASDAQ:ALKS – Get Free Report) last announced its quarterly earnings results on Wednesday, April 26th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.09. The firm had revenue of $287.60 million during the quarter, compared to analysts’ expectations of $284.24 million. Alkermes had a negative net margin of 14.65% and a negative return on equity of 5.02%. As a group, equities research analysts anticipate that Alkermes plc will post 0.44 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
ALKS has been the topic of a number of recent analyst reports. HC Wainwright lifted their price target on shares of Alkermes from $32.00 to $34.00 in a research report on Thursday, April 27th. StockNews.com assumed coverage on shares of Alkermes in a report on Thursday, May 18th. They set a “strong-buy” rating for the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Alkermes in a research note on Monday, July 10th. JPMorgan Chase & Co. raised their target price on Alkermes from $29.00 to $31.00 in a report on Tuesday, April 25th. Finally, Piper Sandler upped their price target on Alkermes from $35.00 to $37.00 in a report on Wednesday, June 7th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $33.33.
Alkermes Profile
Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in the fields of neuroscience and oncology in the United States, Ireland, and internationally. It has a portfolio of proprietary commercial products focused on alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder and a pipeline of product candidates in development for neurological disorders and cancer.
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