Royce & Associates LP Acquires 22,356 Shares of Alkermes plc (NASDAQ:ALKS)

Royce & Associates LP grew its holdings in shares of Alkermes plc (NASDAQ:ALKS) by 49.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 67,628 shares of the company’s stock after acquiring an additional 22,356 shares during the period. Royce & Associates LP’s holdings in Alkermes were worth $1,893,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ALKS. Price T Rowe Associates Inc. MD increased its holdings in Alkermes by 421.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,326,256 shares of the company’s stock valued at $225,393,000 after purchasing an additional 6,730,671 shares during the period. Armistice Capital LLC raised its position in shares of Alkermes by 301.5% during the second quarter. Armistice Capital LLC now owns 2,699,179 shares of the company’s stock worth $65,050,000 after acquiring an additional 2,026,961 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of Alkermes by 31.8% in the second quarter. Pacer Advisors Inc. now owns 5,640,642 shares of the company’s stock worth $135,939,000 after acquiring an additional 1,362,079 shares during the period. American Century Companies Inc. lifted its stake in shares of Alkermes by 87.1% in the second quarter. American Century Companies Inc. now owns 2,203,456 shares of the company’s stock worth $53,103,000 after acquiring an additional 1,025,905 shares during the period. Finally, Affinity Asset Advisors LLC increased its position in Alkermes by 766.7% during the 2nd quarter. Affinity Asset Advisors LLC now owns 650,000 shares of the company’s stock valued at $15,665,000 after purchasing an additional 575,000 shares during the period. Institutional investors and hedge funds own 95.21% of the company’s stock.

Insiders Place Their Bets

In other 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 value of $1,774,599.68. Following the completion of the sale, the executive vice president now directly owns 83,300 shares of the company’s stock, valued at $2,505,664. This 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 through this hyperlink. Corporate insiders own 4.89% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on ALKS. Robert W. Baird upped 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. Cantor Fitzgerald cut 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. Stifel Nicolaus raised 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 report on Tuesday, November 5th. HC Wainwright restated a “neutral” rating and set a $37.00 target price on shares of Alkermes in a research report on Friday, October 25th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $37.00 target price (down from $38.00) on shares of Alkermes in a report on Friday, October 25th. 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.42.

Alkermes Price Performance

Shares of ALKS opened at $27.48 on Wednesday. The stock has a market cap of $4.45 billion, a P/E ratio of 14.09, a P/E/G ratio of 0.94 and a beta of 0.47. The business’s fifty day moving average is $27.80 and its 200 day moving average is $26.27. The company has a quick ratio of 3.03, a current ratio of 3.45 and a debt-to-equity ratio of 0.22. Alkermes plc has a 12-month low of $22.22 and a 12-month high of $32.88.

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.