Empirical Financial Services LLC d.b.a. Empirical Wealth Management Buys Shares of 21,081 Alkermes plc $ALKS

Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in shares of Alkermes plc (NASDAQ:ALKS) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 21,081 shares of the company’s stock, valued at approximately $632,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ALKS. AMG National Trust Bank grew its holdings in Alkermes by 0.6% during the 3rd quarter. AMG National Trust Bank now owns 60,175 shares of the company’s stock worth $1,805,000 after acquiring an additional 388 shares during the last quarter. Persistent Asset Partners Ltd bought a new stake in shares of Alkermes in the 3rd quarter valued at about $496,000. CenterBook Partners LP raised its position in shares of Alkermes by 30.8% during the third quarter. CenterBook Partners LP now owns 27,928 shares of the company’s stock worth $838,000 after acquiring an additional 6,579 shares during the last quarter. Eagle Health Investments LP bought a new stake in Alkermes in the third quarter valued at approximately $2,454,000. Finally, State of New Jersey Common Pension Fund D raised its holdings in Alkermes by 16.8% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 73,196 shares of the company’s stock worth $2,196,000 after purchasing an additional 10,519 shares during the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.

Insider Activity at Alkermes

In other news, Director Shane Cooke sold 61,200 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $34.57, for a total value of $2,115,684.00. Following the transaction, the director owned 103,744 shares in the company, valued at $3,586,430.08. This trade represents a 37.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Craig C. Hopkinson sold 9,000 shares of Alkermes stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $33.93, for a total value of $305,370.00. Following the transaction, the executive vice president directly owned 57,740 shares in the company, valued at approximately $1,959,118.20. The trade was a 13.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 148,148 shares of company stock valued at $5,028,378. Company insiders own 4.40% of the company’s stock.

Alkermes Price Performance

NASDAQ:ALKS opened at $32.19 on Tuesday. Alkermes plc has a one year low of $25.17 and a one year high of $36.32. The company has a market cap of $5.32 billion, a PE ratio of 15.94 and a beta of 0.49. The firm has a 50-day moving average of $31.28 and a 200-day moving average of $30.12.

Analysts Set New Price Targets

A number of research firms have recently commented on ALKS. Wall Street Zen lowered shares of Alkermes from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 9th. Wells Fargo & Company decreased their target price on Alkermes from $42.00 to $37.00 and set an “overweight” rating for the company in a research note on Thursday, November 13th. Truist Financial increased their target price on shares of Alkermes from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, November 17th. Zacks Research lowered shares of Alkermes from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 19th. Finally, Bank of America increased their price objective on shares of Alkermes from $33.00 to $34.00 and gave the stock a “neutral” rating in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Alkermes currently has a consensus rating of “Moderate Buy” and an average target price of $44.00.

About Alkermes

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.