GAMMA Investing LLC Invests $35,000 in Alkermes plc (NASDAQ:ALKS)

GAMMA Investing LLC purchased a new stake in Alkermes plc (NASDAQ:ALKS) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 1,304 shares of the company’s stock, valued at approximately $35,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Emerald Advisers LLC acquired a new stake in Alkermes in the third quarter worth $27,000. CWM LLC lifted its holdings in Alkermes by 147.5% during the third quarter. CWM LLC now owns 1,037 shares of the company’s stock worth $29,000 after acquiring an additional 618 shares in the last quarter. McGlone Suttner Wealth Management Inc. acquired a new position in Alkermes in the fourth quarter valued at about $30,000. C M Bidwell & Associates Ltd. bought a new stake in shares of Alkermes in the third quarter worth about $37,000. Finally, Daiwa Securities Group Inc. raised its position in shares of Alkermes by 166.4% during the fourth quarter. Daiwa Securities Group Inc. now owns 1,761 shares of the company’s stock worth $49,000 after purchasing an additional 1,100 shares during the period. Institutional investors own 95.21% of the company’s stock.

Insider Buying and Selling

In other Alkermes news, SVP Christian Todd Nichols sold 10,417 shares of Alkermes stock in a transaction on Monday, March 18th. The shares were sold at an average price of $28.10, for a total transaction of $292,717.70. Following the completion of the transaction, the senior vice president now directly owns 65,911 shares of the company’s stock, valued at $1,852,099.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 4.76% of the stock is owned by insiders.

Alkermes Stock Performance

NASDAQ ALKS opened at $24.05 on Friday. The firm’s fifty day moving average price is $26.73 and its two-hundred day moving average price is $26.73. Alkermes plc has a 1 year low of $22.01 and a 1 year high of $33.71. The firm has a market capitalization of $4.07 billion, a P/E ratio of 9.51, a price-to-earnings-growth ratio of 0.68 and a beta of 0.61. The company has a current ratio of 3.20, a quick ratio of 2.50 and a debt-to-equity ratio of 0.23.

Alkermes (NASDAQ:ALKS) last issued its earnings results on Wednesday, May 1st. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.15). The firm had revenue of $350.37 million during the quarter, compared to analyst estimates of $360.26 million. Alkermes had a net margin of 25.17% and a return on equity of 20.31%. The company’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same quarter last year, the business posted ($0.10) earnings per share. As a group, research analysts anticipate that Alkermes plc will post 2.22 EPS for the current year.

Alkermes announced that its Board of Directors has initiated a share repurchase program on Thursday, February 15th that permits the company to buyback $400.00 million in shares. This buyback authorization permits the company to buy up to 8.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ALKS shares. HC Wainwright reissued a “neutral” rating and set a $35.00 target price on shares of Alkermes in a research note on Thursday. StockNews.com cut shares of Alkermes from a “buy” rating to a “hold” rating in a research report on Friday. UBS Group downgraded Alkermes from a “neutral” rating to a “sell” rating and set a $25.00 price target on the stock. in a research note on Tuesday, February 20th. Piper Sandler reiterated an “overweight” rating and set a $39.00 price objective on shares of Alkermes in a report on Monday, April 1st. Finally, TheStreet upgraded Alkermes from a “c+” rating to a “b” rating in a research note on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $35.38.

About Alkermes

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.