International Biotechnology Trust PLC Acquires New Shares in Alkermes plc (NASDAQ:ALKS)

International Biotechnology Trust PLC acquired a new position in shares of Alkermes plc (NASDAQ:ALKS) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 45,000 shares of the company’s stock, valued at approximately $1,103,000.

Other hedge funds have also bought and sold shares of the company. US Bancorp DE boosted its holdings in shares of Alkermes by 18.2% during the first quarter. US Bancorp DE now owns 4,278 shares of the company’s stock worth $80,000 after purchasing an additional 658 shares during the last quarter. Eaton Vance Management acquired a new stake in shares of Alkermes during the first quarter worth $111,000. Panagora Asset Management Inc. boosted its holdings in shares of Alkermes by 600.9% during the first quarter. Panagora Asset Management Inc. now owns 6,392 shares of the company’s stock worth $119,000 after purchasing an additional 5,480 shares during the last quarter. Pinz Capital Management LP acquired a new stake in shares of Alkermes during the first quarter worth $121,000. Finally, The PNC Financial Services Group Inc. boosted its holdings in shares of Alkermes by 182.5% during the first quarter. The PNC Financial Services Group Inc. now owns 6,563 shares of the company’s stock worth $123,000 after purchasing an additional 4,240 shares during the last quarter.

In other news, SVP David Joseph Gaffin sold 14,000 shares of the business’s stock in a transaction that occurred on Thursday, July 29th. The stock was sold at an average price of $26.00, for a total transaction of $364,000.00. Following the completion of the transaction, the senior vice president now directly owns 88,597 shares in the company, valued at $2,303,522. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Emily Peterson Alva acquired 1,650 shares of Alkermes stock in a transaction dated Monday, August 23rd. The shares were acquired at an average price of $30.22 per share, with a total value of $49,863.00. Following the completion of the transaction, the director now owns 1,650 shares of the company’s stock, valued at approximately $49,863. The disclosure for this purchase can be found here. Insiders own 4.63% of the company’s stock.

Several equities research analysts have recently issued reports on the company. SVB Leerink raised their price objective on Alkermes from $23.00 to $25.00 and gave the stock a “market perform” rating in a report on Thursday, July 29th. Mizuho reiterated a “buy” rating and issued a $36.00 target price (up previously from $33.00) on shares of Alkermes in a report on Friday, September 10th. Bank of America cut Alkermes from a “neutral” rating to an “underperform” rating and lifted their target price for the company from $25.00 to $27.00 in a report on Thursday, September 2nd. They noted that the move was a valuation call. Finally, HC Wainwright lifted their target price on Alkermes from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Wednesday, June 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $28.25.

NASDAQ:ALKS traded down $0.12 during mid-day trading on Friday, reaching $29.67. The stock had a trading volume of 15,236 shares, compared to its average volume of 1,625,286. The company has a market capitalization of $4.79 billion, a price-to-earnings ratio of -74.47, a price-to-earnings-growth ratio of 10.32 and a beta of 0.97. Alkermes plc has a 1-year low of $15.35 and a 1-year high of $31.52. The stock’s 50 day simple moving average is $28.01 and its two-hundred day simple moving average is $23.90. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.71 and a quick ratio of 2.35.

Alkermes (NASDAQ:ALKS) last posted its quarterly earnings results on Tuesday, July 27th. The company reported $0.30 EPS for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.18. The business had revenue of $303.72 million during the quarter, compared to the consensus estimate of $277.83 million. Alkermes had a positive return on equity of 3.21% and a negative net margin of 5.71%. Sell-side analysts anticipate that Alkermes plc will post 0.07 EPS for the current fiscal year.

Alkermes Profile

Alkermes Plc is a biopharmaceutical company, which engages in the development, research, and commercialization of medicines that are designed to address unmet medical needs of patients in major therapeutic areas. Its products include Aristada, which is used for the treatment of schizophrenia in adults; and Vivitrol, which is an injectable medication for the treatment of alcohol dependence and for the prevention of relapse to opioid dependence, following opioid detoxification.

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Institutional Ownership by Quarter for Alkermes (NASDAQ:ALKS)

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