Centiva Capital LP Takes Position in Alkermes plc (NASDAQ:ALKS)

Centiva Capital LP bought a new stake in Alkermes plc (NASDAQ:ALKS) during the third quarter, Holdings Channel reports. The institutional investor bought 13,106 shares of the company’s stock, valued at approximately $367,000.

Other institutional investors have also modified their holdings of the company. V Square Quantitative Management LLC acquired a new position in shares of Alkermes in the 3rd quarter valued at $29,000. Signaturefd LLC increased its holdings in shares of Alkermes by 51.2% in 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 during the period. Ashton Thomas Private Wealth LLC acquired a new position in shares of Alkermes in the 2nd quarter valued at $116,000. GAMMA Investing LLC increased its holdings in shares of Alkermes by 83.8% in the 3rd quarter. GAMMA Investing LLC now owns 4,204 shares of the company’s stock valued at $118,000 after acquiring an additional 1,917 shares during the period. Finally, Archer Investment Corp increased its holdings in shares of Alkermes by 28.6% in 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. 95.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on ALKS. Mizuho lifted their target price on shares of Alkermes from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. HC Wainwright reissued a “neutral” rating and issued a $37.00 price objective on shares of Alkermes in a research note on Friday, October 25th. Piper Sandler reissued an “overweight” rating and issued a $37.00 price objective (down from $38.00) on shares of Alkermes in a research note on Friday, October 25th. Cantor Fitzgerald dropped their price objective on shares of Alkermes from $48.00 to $43.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Finally, The Goldman Sachs Group dropped their price objective on shares of Alkermes from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Alkermes has an average rating of “Moderate Buy” and an average target price of $35.42.

Alkermes Price Performance

Alkermes stock opened at $31.31 on Tuesday. Alkermes plc has a 52 week low of $22.90 and a 52 week high of $32.88. The company has a quick ratio of 3.03, a current ratio of 3.45 and a debt-to-equity ratio of 0.22. The firm’s 50-day simple moving average is $28.39 and its 200 day simple moving average is $26.82. The firm has a market capitalization of $5.07 billion, a PE ratio of 16.06, a P/E/G ratio of 1.05 and a beta of 0.49.

Insider Buying and Selling

In related news, EVP Craig C. Hopkinson sold 61,151 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $32.07, for a total value of $1,961,112.57. Following the sale, the executive vice president now directly owns 47,576 shares in the company, valued at $1,525,762.32. The trade was a 56.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Christian Todd Nichols sold 5,208 shares of the business’s stock in a transaction dated 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 147,738 shares of company stock worth $4,572,904 in the last three months. Corporate insiders own 4.89% of the company’s stock.

Alkermes Company 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.