Connor Clark & Lunn Investment Management Ltd. Sells 174,742 Shares of Alkermes plc (NASDAQ:ALKS)

Connor Clark & Lunn Investment Management Ltd. decreased its position in shares of Alkermes plc (NASDAQ:ALKS) by 85.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 28,699 shares of the company’s stock after selling 174,742 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Alkermes were worth $803,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ALKS. Pathstone Holdings LLC boosted its position in Alkermes by 72.8% during the third quarter. Pathstone Holdings LLC now owns 71,324 shares of the company’s stock worth $1,996,000 after purchasing an additional 30,048 shares during the period. AMG National Trust Bank lifted 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 valued at $1,669,000 after buying an additional 24,200 shares in the last quarter. Natixis Advisors LLC boosted its holdings in Alkermes by 190.3% in the 3rd quarter. Natixis Advisors LLC now owns 36,490 shares of the company’s stock worth $1,021,000 after buying an additional 23,921 shares during the period. Nicollet Investment Management Inc. grew its stake in Alkermes by 1.7% in the 3rd quarter. Nicollet Investment Management Inc. now owns 43,845 shares of the company’s stock valued at $1,227,000 after buying an additional 714 shares in the last quarter. Finally, Archer Investment Corp raised its holdings in Alkermes by 28.6% during the 3rd quarter. Archer Investment Corp now owns 4,500 shares of the company’s stock valued at $126,000 after acquiring an additional 1,000 shares during the period. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Alkermes Trading Up 0.2 %

Shares of ALKS opened at $29.32 on Friday. Alkermes plc has a fifty-two week low of $22.22 and a fifty-two week high of $32.88. The firm has a market cap of $4.74 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 0.98 and a beta of 0.47. The firm has a 50 day moving average price of $28.00 and a 200-day moving average price of $26.49. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.03 and a current ratio of 3.45.

Wall Street Analysts Forecast Growth

ALKS has been the subject of several recent research reports. Cantor Fitzgerald reduced 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. Mizuho raised their price objective 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. Stifel Nicolaus raised shares of Alkermes from a “hold” rating to a “buy” rating and upped their target price for the stock from $25.00 to $36.00 in a report on Tuesday, November 5th. The Goldman Sachs Group cut their price target 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. Finally, JPMorgan Chase & Co. decreased their price target on shares of Alkermes from $32.00 to $26.00 and set a “neutral” rating on the stock in a 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $35.42.

Insiders Place Their Bets

In other Alkermes news, EVP Craig C. Hopkinson sold 58,996 shares of the business’s 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Christian Todd Nichols sold 5,208 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $29.15, for a total transaction of $151,813.20. Following the completion of the transaction, the senior vice president now owns 60,703 shares in the company, valued at $1,769,492.45. This represents a 7.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 74,675 shares of company stock valued at $2,235,622 over the last three months. Insiders own 4.89% of the company’s stock.

Alkermes 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.