Pacer Advisors Inc. Cuts Stock Position in Alkermes plc (NASDAQ:ALKS)

Pacer Advisors Inc. decreased its position in shares of Alkermes plc (NASDAQ:ALKS) by 26.2% in the third quarter, HoldingsChannel reports. The fund owned 4,165,390 shares of the company’s stock after selling 1,475,252 shares during the quarter. Pacer Advisors Inc.’s holdings in Alkermes were worth $116,589,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ALKS. Sei Investments Co. lifted its holdings in shares of Alkermes by 10.1% during the 1st quarter. Sei Investments Co. now owns 77,942 shares of the company’s stock valued at $2,110,000 after purchasing an additional 7,178 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in Alkermes by 9.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 51,760 shares of the company’s stock worth $1,459,000 after acquiring an additional 4,410 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Alkermes by 70.6% during the first quarter. Acadian Asset Management LLC now owns 25,781 shares of the company’s stock worth $697,000 after acquiring an additional 10,671 shares during the last quarter. O Shaughnessy Asset Management LLC increased its holdings in shares of Alkermes by 21.2% during the first quarter. O Shaughnessy Asset Management LLC now owns 11,976 shares of the company’s stock valued at $324,000 after acquiring an additional 2,097 shares in the last quarter. Finally, Axxcess Wealth Management LLC raised its position in shares of Alkermes by 7.6% in the 1st quarter. Axxcess Wealth Management LLC now owns 24,274 shares of the company’s stock valued at $657,000 after purchasing an additional 1,707 shares during the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Stifel Nicolaus upgraded shares of Alkermes from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $25.00 to $36.00 in a research note on Tuesday, November 5th. The Goldman Sachs Group decreased their target price on Alkermes from $32.00 to $30.00 and set a “buy” rating for the company in a report on Friday, October 25th. Mizuho increased their price objective on shares of Alkermes from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. dropped their target price on Alkermes from $32.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Finally, Cantor Fitzgerald lowered their price target on Alkermes from $48.00 to $43.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Alkermes currently has a consensus rating of “Moderate Buy” and an average target price of $35.42.

Alkermes Stock Down 0.4 %

ALKS stock opened at $27.79 on Friday. The firm has a market cap of $4.50 billion, a PE ratio of 14.25, a PEG ratio of 0.91 and a beta of 0.47. Alkermes plc has a one year low of $22.22 and a one year high of $32.88. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.03 and a current ratio of 3.45. The firm’s 50 day moving average price is $27.84 and its 200-day moving average price is $26.31.

Insider Transactions at Alkermes

In other Alkermes news, EVP Craig C. Hopkinson sold 58,996 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $30.08, for a total transaction of $1,774,599.68. Following the transaction, the executive vice president now directly owns 83,300 shares in the company, valued at $2,505,664. This represents a 41.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.89% of the company’s stock.

Alkermes 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.