Tudor Investment Corp ET AL Acquires New Position in Alkermes plc $ALKS

Tudor Investment Corp ET AL acquired a new stake in shares of Alkermes plc (NASDAQ:ALKS) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 56,383 shares of the company’s stock, valued at approximately $1,691,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp grew its holdings in shares of Alkermes by 2.3% during the second quarter. State Street Corp now owns 8,208,256 shares of the company’s stock valued at $234,838,000 after buying an additional 185,586 shares during the last quarter. Baker BROS. Advisors LP boosted its stake in Alkermes by 26.2% during the 3rd quarter. Baker BROS. Advisors LP now owns 8,091,351 shares of the company’s stock valued at $242,741,000 after purchasing an additional 1,680,748 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Alkermes by 20.2% in the 3rd quarter. American Century Companies Inc. now owns 4,397,471 shares of the company’s stock worth $131,924,000 after purchasing an additional 740,248 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Alkermes by 19.4% in the third quarter. Dimensional Fund Advisors LP now owns 3,697,996 shares of the company’s stock worth $110,925,000 after purchasing an additional 601,359 shares during the last quarter. Finally, Commodore Capital LP lifted its holdings in shares of Alkermes by 26.4% during the third quarter. Commodore Capital LP now owns 3,096,754 shares of the company’s stock valued at $92,903,000 after purchasing an additional 646,754 shares in the last quarter. Institutional investors own 95.21% of the company’s stock.

Insider Buying and Selling at Alkermes

In other news, EVP David Joseph Gaffin sold 2,034 shares of Alkermes stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $29.29, for a total transaction of $59,575.86. Following the transaction, the executive vice president owned 237,660 shares in the company, valued at $6,961,061.40. This trade represents a 0.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Shane Cooke sold 61,200 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $34.57, for a total transaction of $2,115,684.00. Following the sale, the director directly owned 103,744 shares of the company’s stock, valued at approximately $3,586,430.08. The trade was a 37.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 157,434 shares of company stock valued at $5,305,794 in the last ninety days. Corporate insiders own 4.40% of the company’s stock.

Alkermes Stock Performance

Shares of NASDAQ:ALKS opened at $29.39 on Monday. The stock has a market capitalization of $4.90 billion, a price-to-earnings ratio of 20.55, a PEG ratio of 7.33 and a beta of 0.53. The stock’s 50-day simple moving average is $31.31 and its two-hundred day simple moving average is $30.17. Alkermes plc has a 52-week low of $25.17 and a 52-week high of $36.32.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.14). Alkermes had a net margin of 16.37% and a return on equity of 14.91%. The business had revenue of $384.55 million for the quarter, compared to analysts’ expectations of $380.44 million. During the same period in the previous year, the company earned $1.05 EPS. Alkermes’s revenue for the quarter was down 10.6% compared to the same quarter last year. As a group, equities analysts forecast that Alkermes plc will post 1.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on ALKS shares. Truist Financial upgraded Alkermes to a “strong-buy” rating in a report on Wednesday, March 25th. Wall Street Zen lowered shares of Alkermes from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. HC Wainwright reissued a “neutral” rating and set a $43.00 price objective on shares of Alkermes in a report on Thursday, February 26th. Piper Sandler lowered their price objective on shares of Alkermes from $45.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 24th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Alkermes in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $43.93.

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.