Alkermes plc (NASDAQ:ALKS) Shares Sold by Public Sector Pension Investment Board

Public Sector Pension Investment Board cut its position in shares of Alkermes plc (NASDAQ:ALKS) by 6.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 349,417 shares of the company’s stock after selling 22,900 shares during the quarter. Public Sector Pension Investment Board’s holdings in Alkermes were worth $9,780,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new stake in shares of Alkermes in the 3rd quarter worth approximately $29,000. Signaturefd LLC boosted its stake in Alkermes by 51.2% in the 2nd quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock worth $34,000 after purchasing an additional 480 shares during the period. Hexagon Capital Partners LLC grew its position in Alkermes by 3,841.0% during the 2nd quarter. Hexagon Capital Partners LLC now owns 1,537 shares of the company’s stock worth $37,000 after purchasing an additional 1,498 shares in the last quarter. GAMMA Investing LLC raised its stake in Alkermes by 44.4% during the 2nd quarter. GAMMA Investing LLC now owns 2,287 shares of the company’s stock valued at $55,000 after purchasing an additional 703 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Alkermes in the second quarter valued at $116,000. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on ALKS shares. Mizuho lifted their price target on Alkermes from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Piper Sandler reaffirmed an “overweight” rating and set a $37.00 target price (down previously from $38.00) on shares of Alkermes in a research note on Friday, October 25th. 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 report on Friday, October 25th. HC Wainwright restated a “neutral” rating and set a $37.00 price target on shares of Alkermes in a report on Friday, October 25th. Finally, Stifel Nicolaus upgraded shares of Alkermes from a “hold” rating to a “buy” rating and upped their price objective for the company from $25.00 to $36.00 in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Alkermes presently has a consensus rating of “Moderate Buy” and an average price target of $35.42.

Insider Buying and Selling at Alkermes

In other Alkermes news, EVP Craig C. Hopkinson sold 58,996 shares of the stock in a transaction that occurred 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 owns 83,300 shares in the company, valued at $2,505,664. This trade represents a 41.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Christian Todd Nichols sold 5,208 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $29.15, for a total transaction of $151,813.20. Following the completion of the sale, the senior vice president now owns 60,703 shares of the company’s stock, valued at $1,769,492.45. The trade was a 7.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 74,675 shares of company stock worth $2,235,622 over the last three months. Corporate insiders own 4.89% of the company’s stock.

Alkermes Stock Up 0.2 %

Alkermes stock opened at $29.32 on Friday. The company has a market capitalization of $4.74 billion, a P/E ratio of 15.04, a P/E/G ratio of 0.98 and a beta of 0.47. Alkermes plc has a 1-year low of $22.22 and a 1-year high of $32.88. The firm’s fifty day simple moving average is $28.00 and its 200-day simple moving average is $26.49. The company has a current ratio of 3.45, a quick ratio of 3.03 and a debt-to-equity ratio of 0.22.

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.