Burney Co. Sells 4,147 Shares of Alkermes plc (NASDAQ:ALKS)

Burney Co. lowered its position in Alkermes plc (NASDAQ:ALKS) by 21.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,185 shares of the company’s stock after selling 4,147 shares during the quarter. Burney Co.’s holdings in Alkermes were worth $437,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Handelsbanken Fonder AB lifted its position in Alkermes by 0.3% in the third quarter. Handelsbanken Fonder AB now owns 220,600 shares of the company’s stock worth $6,175,000 after purchasing an additional 700 shares during the period. Nicollet Investment Management Inc. lifted its holdings in shares of Alkermes by 1.7% during the 3rd quarter. Nicollet Investment Management Inc. now owns 43,845 shares of the company’s stock worth $1,227,000 after acquiring an additional 714 shares during the period. KBC Group NV boosted its position in shares of Alkermes by 18.8% during the 3rd quarter. KBC Group NV now owns 4,890 shares of the company’s stock valued at $137,000 after acquiring an additional 774 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Alkermes by 17.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,956 shares of the company’s stock worth $164,000 after purchasing an additional 904 shares in the last quarter. Finally, Archer Investment Corp raised its position in Alkermes by 28.6% in the third quarter. Archer Investment Corp now owns 4,500 shares of the company’s stock worth $126,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.

Insider Activity

In other news, EVP Craig C. Hopkinson sold 10,471 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $29.53, for a total value of $309,208.63. Following the transaction, the executive vice president now owns 99,238 shares of the company’s stock, valued at approximately $2,930,498.14. This trade represents a 9.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Cato T. Laurencin sold 2,691 shares of Alkermes stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $31.85, for a total transaction of $85,708.35. Following the sale, the director now owns 23,013 shares of the company’s stock, valued at approximately $732,964.05. This represents a 10.47 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 147,738 shares of company stock valued at $4,572,904. Company insiders own 4.89% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their price objective on Alkermes from $32.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. HC Wainwright reiterated a “neutral” rating and set a $37.00 price objective on shares of Alkermes in a research note on Friday, October 25th. The Goldman Sachs Group reduced their target price on shares of Alkermes from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Mizuho increased their target price on shares of Alkermes from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Cantor Fitzgerald reduced their price target on shares of 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, two have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Alkermes presently has an average rating of “Moderate Buy” and a consensus price target of $36.00.

Alkermes Stock Performance

Shares of Alkermes stock opened at $29.47 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.45 and a quick ratio of 3.03. The firm has a 50 day simple moving average of $29.36 and a 200 day simple moving average of $27.83. Alkermes plc has a fifty-two week low of $22.90 and a fifty-two week high of $32.88. The firm has a market cap of $4.77 billion, a P/E ratio of 15.11, a P/E/G ratio of 1.44 and a beta of 0.49.

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.