Everence Capital Management Inc. Has $274,000 Position in Alkermes plc (NASDAQ:ALKS)

Everence Capital Management Inc. cut its holdings in Alkermes plc (NASDAQ:ALKS) by 48.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 9,540 shares of the company’s stock after selling 8,840 shares during the period. Everence Capital Management Inc.’s holdings in Alkermes were worth $274,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. V Square Quantitative Management LLC bought a new position in Alkermes during the third quarter worth about $29,000. GAMMA Investing LLC boosted its stake in Alkermes by 83.8% during the 3rd quarter. GAMMA Investing LLC now owns 4,204 shares of the company’s stock worth $118,000 after acquiring an additional 1,917 shares during the last quarter. Archer Investment Corp grew its holdings in Alkermes by 28.6% during 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 period. Ashton Thomas Private Wealth LLC bought a new stake in Alkermes in the second quarter valued at approximately $116,000. Finally, KBC Group NV raised its holdings in Alkermes by 18.8% in the third quarter. KBC Group NV now owns 4,890 shares of the company’s stock worth $137,000 after purchasing an additional 774 shares during the period. Institutional investors and hedge funds own 95.21% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on ALKS. Mizuho raised 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. JPMorgan Chase & Co. cut their price objective on shares of Alkermes from $32.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. The Goldman Sachs Group lowered their target price on Alkermes from $32.00 to $30.00 and set a “buy” rating for the company in a report on Friday, October 25th. Stifel Nicolaus upgraded Alkermes from a “hold” rating to a “buy” rating and boosted their price target for the company from $25.00 to $36.00 in a report on Tuesday, November 5th. Finally, Piper Sandler reiterated an “overweight” rating and set a $37.00 price objective (down from $38.00) on shares of Alkermes in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Alkermes currently has an average rating of “Moderate Buy” and an average price target of $36.00.

Alkermes Trading Up 0.2 %

Shares of Alkermes stock opened at $28.54 on Wednesday. The firm has a market capitalization of $4.62 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 1.03 and a beta of 0.49. The company has a current ratio of 3.45, a quick ratio of 3.03 and a debt-to-equity ratio of 0.22. The firm’s 50 day moving average is $29.12 and its 200 day moving average is $27.60. Alkermes plc has a 1 year low of $22.90 and a 1 year high of $32.88.

Insider Transactions at Alkermes

In related news, EVP Craig C. Hopkinson sold 10,471 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $29.53, for a total value of $309,208.63. Following the completion of the transaction, the executive vice president now owns 99,238 shares in the company, valued at $2,930,498.14. This trade represents a 9.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Cato T. Laurencin sold 2,691 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $31.85, for a total value of $85,708.35. Following the completion of the sale, the director now owns 23,013 shares in the company, valued at $732,964.05. This trade represents a 10.47 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 147,738 shares of company stock worth $4,572,904. 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.