Teacher Retirement System of Texas Sells 4,939 Shares of Alkermes plc (NASDAQ:ALKS)

Teacher Retirement System of Texas lessened its stake in shares of Alkermes plc (NASDAQ:ALKS) by 10.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 41,399 shares of the company’s stock after selling 4,939 shares during the quarter. Teacher Retirement System of Texas’ holdings in Alkermes were worth $1,367,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in ALKS. New York State Teachers Retirement System boosted its stake in Alkermes by 2.8% during the 1st quarter. New York State Teachers Retirement System now owns 89,703 shares of the company’s stock valued at $2,962,000 after purchasing an additional 2,425 shares during the period. Illinois Municipal Retirement Fund boosted its stake in Alkermes by 0.9% during the 1st quarter. Illinois Municipal Retirement Fund now owns 82,680 shares of the company’s stock valued at $2,730,000 after purchasing an additional 702 shares during the period. Diversified Trust Co boosted its stake in Alkermes by 3.2% during the 1st quarter. Diversified Trust Co now owns 43,860 shares of the company’s stock valued at $1,448,000 after purchasing an additional 1,351 shares during the period. Advisor Resource Council bought a new stake in Alkermes during the 1st quarter valued at approximately $1,920,000. Finally, Ritholtz Wealth Management bought a new stake in Alkermes during the 1st quarter valued at approximately $348,000. Institutional investors own 95.21% of the company’s stock.

Insider Activity

In related news, SVP Christian Todd Nichols sold 3,334 shares of the firm’s stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $31.09, for a total transaction of $103,654.06. Following the completion of the sale, the senior vice president directly owned 86,208 shares of the company’s stock, valued at $2,680,206.72. This trade represents a 3.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 4.40% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on ALKS. Wall Street Zen downgraded Alkermes from a “strong-buy” rating to a “buy” rating in a research note on Monday, May 5th. Deutsche Bank Aktiengesellschaft increased their target price on Alkermes from $40.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Robert W. Baird increased their target price on Alkermes from $38.00 to $41.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. Needham & Company LLC started coverage on Alkermes in a research report on Wednesday, May 28th. They issued a “buy” rating and a $45.00 price objective for the company. Finally, Royal Bank Of Canada raised their price objective on Alkermes from $39.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.

Alkermes Trading Down 0.6%

Shares of ALKS opened at $30.28 on Friday. Alkermes plc has a 1 year low of $23.12 and a 1 year high of $36.45. The stock has a 50 day simple moving average of $30.15 and a 200-day simple moving average of $30.90. The stock has a market cap of $4.99 billion, a PE ratio of 14.49, a PEG ratio of 1.88 and a beta of 0.44.

Alkermes (NASDAQ:ALKS) last issued its earnings results on Thursday, May 1st. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.19). Alkermes had a return on equity of 27.52% and a net margin of 23.30%. The company had revenue of $306.51 million during the quarter, compared to analyst estimates of $307.53 million. During the same period in the previous year, the company posted $0.43 earnings per share. The company’s quarterly revenue was down 12.6% on a year-over-year basis. On average, sell-side analysts forecast that Alkermes plc will post 1.31 EPS for the current fiscal year.

About Alkermes

Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in therapeutic areas in the United States, Ireland, and internationally. It has a portfolio of proprietary commercial products for the treatment of alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder and a pipeline of clinical and preclinical product candidates in development for neurological disorders.