Verition Fund Management LLC Purchases Shares of 12,452 Alkermes Plc (NASDAQ:ALKS)

Verition Fund Management LLC purchased a new stake in Alkermes Plc (NASDAQ:ALKS) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,452 shares of the company’s stock, valued at approximately $281,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Amundi Pioneer Asset Management Inc. increased its holdings in shares of Alkermes by 6.6% in the second quarter. Amundi Pioneer Asset Management Inc. now owns 63,127 shares of the company’s stock valued at $1,424,000 after buying an additional 3,890 shares in the last quarter. United Services Automobile Association increased its holdings in shares of Alkermes by 11.5% in the second quarter. United Services Automobile Association now owns 199,271 shares of the company’s stock valued at $4,492,000 after buying an additional 20,483 shares in the last quarter. Voloridge Investment Management LLC increased its holdings in shares of Alkermes by 272.0% in the second quarter. Voloridge Investment Management LLC now owns 83,965 shares of the company’s stock valued at $1,893,000 after buying an additional 61,395 shares in the last quarter. Worldquant Millennium Advisors LLC increased its holdings in shares of Alkermes by 114.7% in the second quarter. Worldquant Millennium Advisors LLC now owns 114,369 shares of the company’s stock valued at $2,578,000 after buying an additional 61,097 shares in the last quarter. Finally, Pictet Asset Management Ltd. increased its holdings in shares of Alkermes by 26.8% in the second quarter. Pictet Asset Management Ltd. now owns 164,333 shares of the company’s stock valued at $3,704,000 after buying an additional 34,713 shares in the last quarter. 95.90% of the stock is currently owned by institutional investors.

NASDAQ ALKS traded down $0.71 on Friday, hitting $18.13. 13,310 shares of the stock were exchanged, compared to its average volume of 1,231,453. Alkermes Plc has a 52-week low of $17.78 and a 52-week high of $45.16. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.98 and a quick ratio of 2.69. The company has a market capitalization of $2.96 billion, a price-to-earnings ratio of -259.43 and a beta of 1.81. The company’s 50-day moving average price is $20.82 and its two-hundred day moving average price is $25.21.

Alkermes (NASDAQ:ALKS) last posted its quarterly earnings data on Thursday, July 25th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.20. Alkermes had a negative net margin of 17.10% and a negative return on equity of 4.13%. The firm had revenue of $279.90 million for the quarter, compared to analysts’ expectations of $251.40 million. During the same period in the previous year, the company posted $0.29 EPS. The company’s quarterly revenue was down 8.1% compared to the same quarter last year. Equities analysts predict that Alkermes Plc will post -0.4 EPS for the current fiscal year.

In other Alkermes news, CEO Richard F. Pops sold 100,000 shares of Alkermes stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $22.68, for a total transaction of $2,268,000.00. Following the transaction, the chief executive officer now directly owns 816,433 shares in the company, valued at approximately $18,516,700.44. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last quarter, insiders have sold 300,000 shares of company stock worth $6,440,000. Corporate insiders own 4.71% of the company’s stock.

Several research analysts have issued reports on ALKS shares. ValuEngine raised Alkermes from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Cowen set a $34.00 price target on Alkermes and gave the company a “buy” rating in a report on Friday, September 13th. Goldman Sachs Group raised Alkermes from a “sell” rating to a “neutral” rating and set a $27.00 price target on the stock in a report on Monday, July 15th. BidaskClub cut shares of Alkermes from a “hold” rating to a “sell” rating in a research report on Friday, September 27th. Finally, Citigroup set a $25.00 price objective on shares of Alkermes and gave the stock a “hold” rating in a research report on Friday, July 26th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $28.45.

Alkermes Profile

Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in various therapeutic areas in the United States, Ireland, and internationally. The company's marketed products include ARISTADA (aripiprazole lauroxil), an extended-release intramuscular injectable suspension for the treatment of schizophrenia; VIVITROL (naltrexone for extended-release injectable suspension) for the treatment of alcohol and opioid dependence; RISPERDAL CONSTA for the treatment of schizophrenia and bipolar I disorder; INVEGA SUSTENNA for the treatment of schizophrenia and schizoaffective disorder; XEPLION, INVEGA TRINZA, and TREVICTA for treating schizophrenia; and AMPYRA (dalfampridine)/FAMPYRA (fampridine) to enhance walking in adults with multiple sclerosis (MS) who have walking disability.

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Institutional Ownership by Quarter for Alkermes (NASDAQ:ALKS)

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