Sector Gamma AS Invests $5.55 Million in Alkermes plc (NASDAQ:ALKS)

Sector Gamma AS bought a new position in Alkermes plc (NASDAQ:ALKS) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 200,000 shares of the company’s stock, valued at approximately $5,548,000. Alkermes makes up about 1.3% of Sector Gamma AS’s holdings, making the stock its 26th largest holding. Sector Gamma AS owned about 0.12% of Alkermes at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Emerald Advisers LLC acquired a new position in shares of Alkermes in the 3rd quarter worth approximately $27,000. CWM LLC raised its holdings in shares of Alkermes by 147.5% in the 3rd quarter. CWM LLC now owns 1,037 shares of the company’s stock worth $29,000 after buying an additional 618 shares in the last quarter. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Alkermes in the 4th quarter worth approximately $30,000. GAMMA Investing LLC acquired a new stake in Alkermes during the 4th quarter valued at $35,000. Finally, C M Bidwell & Associates Ltd. acquired a new stake in Alkermes during the 3rd quarter valued at $37,000. 95.21% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ALKS has been the subject of a number of recent analyst reports. HC Wainwright reaffirmed a “neutral” rating and set a $35.00 price target on shares of Alkermes in a report on Friday, April 19th. TheStreet upgraded Alkermes from a “c+” rating to a “b” rating in a research report on Thursday, February 15th. Piper Sandler reiterated an “overweight” rating and issued a $39.00 price objective on shares of Alkermes in a research report on Monday, April 1st. Robert W. Baird initiated coverage on Alkermes in a research report on Tuesday, March 19th. They issued an “outperform” rating and a $37.00 price objective on the stock. Finally, StockNews.com lowered Alkermes from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Alkermes currently has an average rating of “Moderate Buy” and an average price target of $35.38.

Insider Transactions at Alkermes

In related news, SVP Christian Todd Nichols sold 10,417 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $28.10, for a total transaction of $292,717.70. Following the sale, the senior vice president now owns 65,911 shares of the company’s stock, valued at approximately $1,852,099.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.76% of the stock is owned by corporate insiders.

Alkermes Trading Up 1.0 %

Shares of NASDAQ:ALKS traded up $0.24 during midday trading on Friday, hitting $24.68. The company had a trading volume of 1,016,741 shares, compared to its average volume of 1,805,169. Alkermes plc has a 12 month low of $22.01 and a 12 month high of $33.71. The company has a current ratio of 2.86, a quick ratio of 2.50 and a debt-to-equity ratio of 0.24. The stock has a market cap of $4.18 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 0.67 and a beta of 0.55. The firm has a fifty day simple moving average of $27.30 and a 200 day simple moving average of $26.87.

Alkermes (NASDAQ:ALKS) last posted its quarterly earnings results on Thursday, February 15th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.29). Alkermes had a return on equity of 16.10% and a net margin of 21.39%. The company had revenue of $377.50 million during the quarter, compared to the consensus estimate of $362.78 million. During the same quarter in the prior year, the business earned ($0.02) earnings per share. The firm’s revenue for the quarter was up 23.9% on a year-over-year basis. On average, analysts predict that Alkermes plc will post 2.24 EPS for the current year.

Alkermes announced that its Board of Directors has approved a stock buyback program on Thursday, February 15th that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the company to buy up to 8.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Alkermes Company Profile

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.