Spark Investment Management LLC Has $7.86 Million Stake in Alkermes Plc (ALKS)

Spark Investment Management LLC increased its position in Alkermes Plc (NASDAQ:ALKS) by 92.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 215,300 shares of the company’s stock after purchasing an additional 103,400 shares during the quarter. Spark Investment Management LLC’s holdings in Alkermes were worth $7,856,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in ALKS. Dimensional Fund Advisors LP raised its position in shares of Alkermes by 5.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 228,224 shares of the company’s stock worth $9,688,000 after purchasing an additional 11,667 shares during the last quarter. LPL Financial LLC acquired a new position in shares of Alkermes during the 3rd quarter worth about $212,000. Vanguard Group Inc raised its position in shares of Alkermes by 1.5% during the 3rd quarter. Vanguard Group Inc now owns 13,224,145 shares of the company’s stock worth $561,231,000 after purchasing an additional 196,776 shares during the last quarter. Virtu Financial LLC raised its position in shares of Alkermes by 167.1% during the 4th quarter. Virtu Financial LLC now owns 14,891 shares of the company’s stock worth $439,000 after purchasing an additional 9,315 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its position in shares of Alkermes by 155.3% during the 4th quarter. Meeder Asset Management Inc. now owns 1,810 shares of the company’s stock worth $53,000 after purchasing an additional 1,101 shares during the last quarter. Institutional investors and hedge funds own 97.55% of the company’s stock.

NASDAQ:ALKS opened at $24.85 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.94 and a quick ratio of 2.65. The company has a market cap of $3.97 billion, a P/E ratio of -355.00 and a beta of 1.72. Alkermes Plc has a fifty-two week low of $24.81 and a fifty-two week high of $51.70.

Alkermes (NASDAQ:ALKS) last posted its quarterly earnings data on Thursday, April 25th. The company reported ($0.17) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.38) by $0.21. The firm had revenue of $223.10 million during the quarter, compared to analysts’ expectations of $218.84 million. Alkermes had a negative net margin of 15.86% and a negative return on equity of 2.08%. The firm’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter last year, the company posted ($0.09) EPS. As a group, equities analysts forecast that Alkermes Plc will post -0.37 EPS for the current year.

In other Alkermes news, Director Richard F. Pops sold 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $33.32, for a total value of $1,999,200.00. Following the completion of the transaction, the director now owns 760,604 shares of the company’s stock, valued at approximately $25,343,325.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael J. Landine sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $32.07, for a total transaction of $641,400.00. Following the completion of the transaction, the senior vice president now directly owns 205,122 shares of the company’s stock, valued at approximately $6,578,262.54. The disclosure for this sale can be found here. Insiders have sold a total of 162,373 shares of company stock valued at $5,362,950 in the last ninety days. 4.71% of the stock is currently owned by corporate insiders.

Several research firms recently weighed in on ALKS. Zacks Investment Research upgraded shares of Alkermes from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research report on Monday, April 8th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Alkermes in a research note on Wednesday, April 10th. ValuEngine raised shares of Alkermes from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. TheStreet raised shares of Alkermes from a “d” rating to a “c-” rating in a research note on Tuesday, February 19th. Finally, BidaskClub cut shares of Alkermes from a “buy” rating to a “hold” rating in a research note on Friday, January 25th. Six analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. Alkermes has a consensus rating of “Hold” and a consensus price target of $40.50.

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About Alkermes

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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