Alkermes plc (NASDAQ:ALKS) Shares Bought by Archer Investment Corp

Archer Investment Corp grew its position in Alkermes plc (NASDAQ:ALKS) by 28.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,500 shares of the company’s stock after acquiring an additional 1,000 shares during the quarter. Archer Investment Corp’s holdings in Alkermes were worth $126,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Royce & Associates LP raised its position in Alkermes by 49.4% in the 3rd quarter. Royce & Associates LP now owns 67,628 shares of the company’s stock valued at $1,893,000 after purchasing an additional 22,356 shares during the last quarter. KBC Group NV raised its holdings in shares of Alkermes by 18.8% in the third quarter. KBC Group NV now owns 4,890 shares of the company’s stock valued at $137,000 after buying an additional 774 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Alkermes by 18.4% during the third quarter. Victory Capital Management Inc. now owns 136,282 shares of the company’s stock worth $3,815,000 after buying an additional 21,221 shares during the period. Aigen Investment Management LP purchased a new position in shares of Alkermes during the third quarter worth about $216,000. Finally, Robeco Institutional Asset Management B.V. increased its position in Alkermes by 92.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 95,509 shares of the company’s stock valued at $2,673,000 after acquiring an additional 45,857 shares during the period. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Craig C. Hopkinson sold 58,996 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $30.08, for a total value of $1,774,599.68. Following the sale, the executive vice president now directly owns 83,300 shares in the company, valued at $2,505,664. The trade was a 41.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.89% of the company’s stock.

Analyst Upgrades and Downgrades

ALKS has been the subject of a number of recent research reports. Cantor Fitzgerald decreased their price objective on Alkermes from $48.00 to $43.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Piper Sandler reaffirmed an “overweight” rating and set a $37.00 price target (down from $38.00) on shares of Alkermes in a report on Friday, October 25th. Robert W. Baird boosted their price objective on shares of Alkermes from $37.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. HC Wainwright restated a “neutral” rating and issued a $37.00 target price on shares of Alkermes in a research note on Friday, October 25th. Finally, Mizuho boosted their price target on shares of Alkermes from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Alkermes currently has an average rating of “Moderate Buy” and an average target price of $35.42.

Alkermes Trading Down 0.6 %

Shares of Alkermes stock opened at $28.19 on Friday. The company has a 50-day moving average of $27.79 and a two-hundred day moving average of $26.22. Alkermes plc has a 12-month low of $22.06 and a 12-month high of $32.88. The company has a current ratio of 3.45, a quick ratio of 3.03 and a debt-to-equity ratio of 0.22. The stock has a market cap of $4.56 billion, a PE ratio of 14.46, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47.

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.