Alkermes plc (NASDAQ:ALKS) Shares Purchased by BNP Paribas Financial Markets

BNP Paribas Financial Markets lifted its stake in Alkermes plc (NASDAQ:ALKS) by 74.7% in the 3rd quarter, Holdings Channel reports. The firm owned 149,493 shares of the company’s stock after purchasing an additional 63,939 shares during the quarter. BNP Paribas Financial Markets’ holdings in Alkermes were worth $4,184,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new stake in shares of Alkermes in the third quarter valued at about $29,000. Signaturefd LLC increased its holdings in Alkermes by 51.2% during the 2nd quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock valued at $34,000 after acquiring an additional 480 shares in the last quarter. Hexagon Capital Partners LLC increased its holdings in Alkermes by 3,841.0% during the 2nd quarter. Hexagon Capital Partners LLC now owns 1,537 shares of the company’s stock valued at $37,000 after acquiring an additional 1,498 shares in the last quarter. GAMMA Investing LLC increased its holdings in 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 acquiring an additional 703 shares in the last quarter. Finally, Archer Investment Corp increased 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 in the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Cantor Fitzgerald dropped their target price 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. The Goldman Sachs Group dropped 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. Piper Sandler restated an “overweight” rating and set a $37.00 target price (down from $38.00) on shares of Alkermes in a report on Friday, October 25th. Stifel Nicolaus upgraded shares of Alkermes from a “hold” rating to a “buy” rating and raised their target price for the company from $25.00 to $36.00 in a report on Tuesday, November 5th. Finally, Mizuho lifted their price target on shares of Alkermes from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $35.42.

Alkermes Price Performance

Alkermes stock opened at $31.06 on Thursday. Alkermes plc has a 1 year low of $22.90 and a 1 year high of $32.88. The firm has a 50 day moving average price of $28.17 and a 200 day moving average price of $26.66. The company has a market cap of $5.03 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 0.98 and a beta of 0.49. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.03 and a current ratio of 3.45.

Insider Activity at Alkermes

In other Alkermes news, EVP Craig C. Hopkinson sold 58,996 shares of Alkermes stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 83,300 shares of the company’s stock, valued at $2,505,664. The trade was a 41.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Christian Todd Nichols sold 5,208 shares of Alkermes stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $29.15, for a total transaction of $151,813.20. Following the transaction, the senior vice president now directly owns 60,703 shares in the company, valued at approximately $1,769,492.45. This trade represents a 7.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 74,675 shares of company stock worth $2,235,622. 4.89% of the stock is owned by company insiders.

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.