Swiss National Bank Has $8.78 Million Holdings in Alkermes plc (NASDAQ:ALKS)

Swiss National Bank lessened its stake in Alkermes plc (NASDAQ:ALKS) by 0.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 313,800 shares of the company’s stock after selling 2,400 shares during the quarter. Swiss National Bank owned 0.19% of Alkermes worth $8,783,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new position in shares of Alkermes in the third quarter valued at approximately $29,000. Signaturefd LLC boosted its holdings in Alkermes by 51.2% during the second quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock worth $34,000 after purchasing an additional 480 shares during the last quarter. Hexagon Capital Partners LLC boosted its holdings in Alkermes by 3,841.0% during the second 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 during the last quarter. GAMMA Investing LLC boosted its holdings in Alkermes by 44.4% during the second quarter. GAMMA Investing LLC now owns 2,287 shares of the company’s stock worth $55,000 after purchasing an additional 703 shares during the last quarter. Finally, Archer Investment Corp boosted its holdings in Alkermes by 28.6% during 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 during the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.

Insider Transactions at Alkermes

In other news, EVP Craig C. Hopkinson sold 58,996 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $30.08, for a total transaction of $1,774,599.68. Following the completion of the sale, the executive vice president now owns 83,300 shares in the company, valued at approximately $2,505,664. This trade represents a 41.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 4.89% of the stock is currently owned by corporate insiders.

Alkermes Stock Performance

NASDAQ ALKS opened at $29.36 on Tuesday. The firm has a 50-day moving average of $27.92 and a 200-day moving average of $26.42. 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 stock has a market cap of $4.75 billion, a PE ratio of 15.06, a P/E/G ratio of 0.96 and a beta of 0.47. Alkermes plc has a 52-week low of $22.22 and a 52-week high of $32.88.

Wall Street Analyst Weigh In

Several research analysts recently commented on ALKS shares. Mizuho increased their target price on shares of Alkermes from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. The Goldman Sachs Group reduced their target price on shares of Alkermes from $32.00 to $30.00 and set a “buy” rating for the company in a report on Friday, October 25th. HC Wainwright restated a “neutral” rating and set a $37.00 target price on shares of Alkermes in a report on Friday, October 25th. Piper Sandler restated an “overweight” rating and set a $37.00 target price (down previously from $38.00) on shares of Alkermes in a report on Friday, October 25th. Finally, Cantor Fitzgerald cut their price target on shares of Alkermes from $48.00 to $43.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.42.

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.