Alkermes Plc has been making waves in the pharmaceutical industry with its innovative medicines designed to address unmet medical needs in major therapeutic areas. However, recent news has revealed that Artisan Partners Limited Partnership, an institutional investor, has cut its holdings in the company by 3.4% during the fourth quarter of this year.
According to the most recent Form 13F filing with the Securities and Exchange Commission (SEC), Artisan Partners Limited Partnership owned about 1.17% of Alkermes worth $50,177,000 as of its most recent SEC filing. The institutional investor sold a total of 67,106 shares during the period, bringing their total holdings down to just over 1.9 million shares.
While this may seem like a significant drop in ownership for Artisan Partners Limited Partnership, it is important to note that they still hold a considerable amount of shares in Alkermes Plc. This suggests that they still maintain confidence in the future potential of the company despite reducing their stake.
Meanwhile, Director Nancy Wysenski has also been making significant moves regarding her holdings in Alkermes Plc. On Tuesday, May 9th, she sold 41,250 shares of the company’s stock at an average price of $31.24 for a total value of $1,288,650. Following the transaction, she now owns just over 15,800 shares valued at $494,497.96.
These insider dealings have been disclosed in legal filings with the Securities and Exchange Commission and are available for public access through their website.
Alkermes Plc continues to be a major player in the biopharmaceutical industry with its pipeline of product candidates currently in development for neurological disorders and cancer. As we move further into May 20th , it will be interesting to see how these changes affect future developments within the industry and specifically within Alkermes Plc.
Investment Opportunities: Alkermes Plc’s Global Biopharmaceutical Innovations to Address Unmet Medical Needs[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”ALKS” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]
Alkermes Plc: A Global Biopharmaceutical Company Addressing Unmet Medical Needs
Alkermes Plc is a biopharmaceutical company that specializes in developing innovative medicines targeted at addressing unmet medical needs across several therapeutic areas. The firm has a strong pipeline of product candidates for neurological disorders, cancer, alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder.
This article takes a look at the company’s recent performance and what analysts are saying about the stock. Recently, hedge funds and other institutional investors purchased and sold shares of Alkermes. Some noteworthy transactions include MQS Management LLC purchasing a new stake valued at $231,000 in the third quarter, and California Public Employees Retirement System boosting its position by 29.6% in the fourth quarter to own 505,276 shares valued at $13,203,000.
Pictet Asset Management SA also boosted its position by 12.1% in the third quarter to now own over half a million shares worth $12,123,000. Finally, Jupiter Asset Management Ltd lifted its position by 56.3% in Q3 last year to own over two hundred thousand shares valued at $5,392,000. Currently owned by institutional investors and hedge funds combined is over 96% of Alkermes’ stock.
Several equities research analysts have commented on the company’s stock with JPMorgan Chase & Co raising their price target from $29 to $31 while HC Wainwright lifted their target price from $32 to $34 per share earlier this year on April 25th and April 27th respectively. Other analysts like Stifel Nicolaus raised their price target to $30 on February 16th while Mizuho upped their ratings for the stock from ‘hold’ to ‘buy,’ giving it an average rating of “Moderate Buy.”
ALKS opened trading at $30.18 per share on Friday, May 20 and is currently trading slightly above its recent 50 day moving average of $28.69. The company has a healthy debt-to-equity ratio of 0.29 and a quick ratio of 1.88.
Alkermes posted their earnings results for Q4 this year on February 16th with the company showcasing a strong performance with earnings per share of $0.14 significantly higher than analysts’ estimates of $0.05. While the revenue ($304.70 million) did not meet consensus projections ($289.80 million), overall Alkermes’s revenue for the quarter was down by a marginal 6.1% compared to the same quarter in previous years.
With innovative work spiraling across several therapeutic areas that focus majorly on addressing unmet medical needs, biopharmaceutical firm Alkermes Plc maintains itself over the long run as an attractive investment opportunity for investors seeking to grow their portfolio both modestly and confidently alike in an age where vital research can change people’s lives around the globe, as a newer breed of pharmaceutical solution providers like Alkermes are sure to find both value and significance with patients from different regions suffering from similar afflictions around the world in need of effective cures.