Pathstone Holdings LLC Increases Position in Alkermes plc (NASDAQ:ALKS)

Pathstone Holdings LLC increased its stake in shares of Alkermes plc (NASDAQ:ALKS) by 72.8% during the third quarter, Holdings Channel reports. The institutional investor owned 71,324 shares of the company’s stock after acquiring an additional 30,048 shares during the period. Pathstone Holdings LLC’s holdings in Alkermes were worth $1,996,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AMG National Trust Bank boosted its stake in shares of Alkermes by 68.3% during the 3rd quarter. AMG National Trust Bank now owns 59,645 shares of the company’s stock worth $1,669,000 after acquiring an additional 24,200 shares in the last quarter. Natixis Advisors LLC boosted its position in Alkermes by 190.3% during the third quarter. Natixis Advisors LLC now owns 36,490 shares of the company’s stock worth $1,021,000 after purchasing an additional 23,921 shares in the last quarter. Nicollet Investment Management Inc. boosted its position in Alkermes by 1.7% during the third quarter. Nicollet Investment Management Inc. now owns 43,845 shares of the company’s stock worth $1,227,000 after purchasing an additional 714 shares in the last quarter. Archer Investment Corp grew its holdings in Alkermes by 28.6% in the third quarter. Archer Investment Corp now owns 4,500 shares of the company’s stock valued at $126,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Royce & Associates LP increased its position in shares of Alkermes by 49.4% in the third quarter. Royce & Associates LP now owns 67,628 shares of the company’s stock valued at $1,893,000 after buying an additional 22,356 shares in the last quarter. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. The Goldman Sachs Group decreased their price objective on shares of Alkermes from $32.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Mizuho increased their price target on shares of Alkermes from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. HC Wainwright restated a “neutral” rating and set a $37.00 price objective on shares of Alkermes in a research report on Friday, October 25th. JPMorgan Chase & Co. lowered their target price on Alkermes from $32.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Finally, Cantor Fitzgerald dropped their price target on Alkermes from $48.00 to $43.00 and set an “overweight” 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 assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $35.42.

Insider Activity

In related news, EVP Craig C. Hopkinson sold 58,996 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were 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 in the company, valued at approximately $2,505,664. The trade was a 41.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.89% of the company’s stock.

Alkermes Stock Performance

NASDAQ ALKS opened at $29.25 on Wednesday. The business’s 50-day moving average price is $27.95 and its 200 day moving average price is $26.45. 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 twelve month low of $22.22 and a twelve month high of $32.88. The company has a market capitalization of $4.73 billion, a PE ratio of 15.00, a price-to-earnings-growth ratio of 0.96 and a beta of 0.47.

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.