Mirae Asset Global Investments Co. Ltd. Decreases Position in Alkermes plc (NASDAQ:ALKS)

Mirae Asset Global Investments Co. Ltd. decreased its stake in Alkermes plc (NASDAQ:ALKS) by 9.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 5,392 shares of the company’s stock after selling 564 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Alkermes were worth $159,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Nicollet Investment Management Inc. boosted its position in shares of Alkermes by 1.7% in the third quarter. Nicollet Investment Management Inc. now owns 43,845 shares of the company’s stock worth $1,227,000 after buying an additional 714 shares during the period. KBC Group NV lifted its stake in shares of 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 acquiring an additional 774 shares in the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of Alkermes by 3.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 30,950 shares of the company’s stock worth $890,000 after acquiring an additional 897 shares in the last quarter. Archer Investment Corp lifted its stake in shares of Alkermes by 28.6% in the third quarter. Archer Investment Corp now owns 4,500 shares of the company’s stock worth $126,000 after acquiring an additional 1,000 shares in the last quarter. Finally, V Square Quantitative Management LLC acquired a new position in shares of Alkermes in the third quarter worth about $29,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Insider Activity

In related news, SVP Christian Todd Nichols sold 5,208 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $29.15, for a total value of $151,813.20. Following the completion of the transaction, the senior vice president now directly owns 60,703 shares of the company’s stock, valued at $1,769,492.45. This represents a 7.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Craig C. Hopkinson sold 61,151 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $32.07, for a total value of $1,961,112.57. Following the completion of the transaction, the executive vice president now directly owns 47,576 shares of the company’s stock, valued at $1,525,762.32. This trade represents a 56.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 179,189 shares of company stock valued at $5,723,518. 4.89% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ALKS has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their price target on Alkermes from $32.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Mizuho boosted their price target on Alkermes from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Stifel Nicolaus upgraded Alkermes from a “hold” rating to a “buy” rating and boosted their price target for the stock from $25.00 to $36.00 in a research note on Tuesday, November 5th. HC Wainwright reiterated a “neutral” rating and issued a $46.00 price target on shares of Alkermes in a research note on Thursday. Finally, Piper Sandler reiterated an “overweight” rating and issued a $37.00 price target (down previously from $38.00) on shares of Alkermes in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.08.

Alkermes Stock Up 7.5 %

NASDAQ:ALKS opened at $36.00 on Friday. The firm has a market capitalization of $5.82 billion, a PE ratio of 18.46, a price-to-earnings-growth ratio of 1.83 and a beta of 0.49. The stock has a 50 day moving average of $30.21 and a 200-day moving average of $28.68. Alkermes plc has a 52 week low of $22.90 and a 52 week high of $36.06. 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 (NASDAQ:ALKS) last posted its earnings results on Wednesday, February 12th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.81 by $0.11. Alkermes had a return on equity of 24.92% and a net margin of 22.15%. Analysts predict that Alkermes plc will post 2.23 EPS for the current year.

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.