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

Pacer Advisors Inc. decreased its position in shares of Alkermes plc (NASDAQ:ALKSFree Report) 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.

Read Our Latest Stock Report on ALKS

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

(Free Report)

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.

Read More

Want to see what other hedge funds are holding ALKS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alkermes plc (NASDAQ:ALKSFree Report).

Institutional Ownership by Quarter for Alkermes (NASDAQ:ALKS)

Receive News & Ratings for Alkermes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alkermes and related companies with MarketBeat.com's FREE daily email newsletter.