KBC Group NV Increases Position in Alkermes plc (NASDAQ:ALKS)

KBC Group NV increased its holdings in shares of Alkermes plc (NASDAQ:ALKS) by 18.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,890 shares of the company’s stock after acquiring an additional 774 shares during the quarter. KBC Group NV’s holdings in Alkermes were worth $137,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. V Square Quantitative Management LLC purchased a new stake in shares of Alkermes during the 3rd quarter worth approximately $29,000. Signaturefd LLC raised its stake in shares of Alkermes by 51.2% in the second quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock valued at $34,000 after buying an additional 480 shares during the period. Hexagon Capital Partners LLC raised its stake in shares of Alkermes by 3,841.0% in the second quarter. Hexagon Capital Partners LLC now owns 1,537 shares of the company’s stock valued at $37,000 after buying an additional 1,498 shares during the period. GAMMA Investing LLC lifted its position in shares of 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 buying an additional 703 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Alkermes during the 2nd quarter worth $116,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Wall Street Analyst Weigh In

ALKS has been the topic of several recent research reports. 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 report on Thursday, July 25th. HC Wainwright restated a “neutral” rating and set a $37.00 price target on shares of Alkermes in a research note on Friday, October 25th. Cantor Fitzgerald cut their price objective on shares of Alkermes from $48.00 to $43.00 and set an “overweight” rating for the company in a report on Friday, October 25th. StockNews.com raised Alkermes from a “hold” rating to a “buy” rating in a report on Sunday, July 28th. Finally, The Goldman Sachs Group reduced their price target on Alkermes from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Alkermes presently has an average rating of “Moderate Buy” and an average price target of $35.42.

Alkermes Stock Down 0.4 %

ALKS stock opened at $27.79 on Friday. The company’s 50 day moving average is $27.84 and its 200 day moving average is $26.31. The stock has a market cap of $4.50 billion, a price-to-earnings ratio of 14.31, a price-to-earnings-growth ratio of 0.91 and a beta of 0.47. The company has a current ratio of 3.45, a quick ratio of 3.03 and a debt-to-equity ratio of 0.22. Alkermes plc has a 1-year low of $22.22 and a 1-year high of $32.88.

Insiders Place Their Bets

In other news, EVP Craig C. Hopkinson sold 58,996 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 83,300 shares in the company, valued at approximately $2,505,664. This represents a 41.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 4.89% of the company’s stock.

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.