Bank of New York Mellon Corp Has $36.65 Million Stock Holdings in Alkermes plc $ALKS

Bank of New York Mellon Corp reduced its holdings in Alkermes plc (NASDAQ:ALKS) by 3.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,036,460 shares of the company’s stock after selling 37,627 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.62% of Alkermes worth $36,649,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in Alkermes by 20.1% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 29,805 shares of the company’s stock valued at $1,054,000 after purchasing an additional 4,991 shares during the period. Principal Financial Group Inc. lifted its holdings in Alkermes by 1.1% during the 1st quarter. Principal Financial Group Inc. now owns 958,016 shares of the company’s stock worth $33,875,000 after buying an additional 10,393 shares during the period. Teachers Retirement System of The State of Kentucky lifted its holdings in Alkermes by 18.5% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 77,928 shares of the company’s stock worth $2,756,000 after buying an additional 12,165 shares during the period. Sequoia Financial Advisors LLC grew its position in shares of Alkermes by 4.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 9,272 shares of the company’s stock valued at $328,000 after buying an additional 422 shares during the last quarter. Finally, Hsbc Holdings PLC grew its position in shares of Alkermes by 12.9% in the 1st quarter. Hsbc Holdings PLC now owns 48,337 shares of the company’s stock valued at $1,731,000 after buying an additional 5,520 shares during the last quarter. Institutional investors own 95.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ALKS. Zacks Research upgraded Alkermes from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Royal Bank Of Canada upped their target price on Alkermes from $45.00 to $56.00 and gave the company an “outperform” rating in a report on Tuesday, June 9th. TD Cowen raised their price target on shares of Alkermes from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. JPMorgan Chase & Co. began coverage on shares of Alkermes in a research report on Monday, July 13th. They issued a “neutral” rating and a $60.00 price target on the stock. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $63.00 price objective (up from $45.00) on shares of Alkermes in a research note on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Alkermes currently has an average rating of “Moderate Buy” and a consensus price target of $52.50.

Insider Buying and Selling

In other Alkermes news, Director Christopher I. Wright sold 2,000 shares of Alkermes stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $45.10, for a total value of $90,200.00. Following the completion of the sale, the director directly owned 25,680 shares in the company, valued at approximately $1,158,168. The trade was a 7.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP David Joseph Gaffin sold 2,034 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $54.03, for a total value of $109,897.02. Following the completion of the transaction, the executive vice president directly owned 227,490 shares in the company, valued at approximately $12,291,284.70. This trade represents a 0.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 35,102 shares of company stock valued at $1,494,410 over the last 90 days. Company insiders own 4.59% of the company’s stock.

Alkermes Stock Performance

ALKS stock opened at $52.89 on Friday. The firm has a market cap of $8.82 billion, a PE ratio of 58.77 and a beta of 0.34. The company has a current ratio of 2.27, a quick ratio of 1.70 and a debt-to-equity ratio of 0.85. The stock has a 50-day moving average price of $46.92 and a 200-day moving average price of $37.44. Alkermes plc has a 1-year low of $25.17 and a 1-year high of $55.67.

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.