Alkermes plc (NASDAQ:ALKS) Position Reduced by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its position in shares of Alkermes plc (NASDAQ:ALKS) by 42.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 119,775 shares of the company’s stock after selling 89,760 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Alkermes were worth $3,353,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Measured Wealth Private Client Group LLC increased its holdings in Alkermes by 28.5% in the first quarter. Measured Wealth Private Client Group LLC now owns 9,682 shares of the company’s stock worth $262,000 after buying an additional 2,148 shares during the last quarter. First Trust Direct Indexing L.P. acquired a new stake in shares of Alkermes in the 1st quarter valued at $222,000. Capstone Investment Advisors LLC acquired a new stake in shares of Alkermes in the 1st quarter valued at $883,000. Daiwa Securities Group Inc. boosted its stake in shares of Alkermes by 380.5% in the 1st quarter. Daiwa Securities Group Inc. now owns 8,461 shares of the company’s stock valued at $229,000 after purchasing an additional 6,700 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of Alkermes by 24.9% in the first quarter. Jennison Associates LLC now owns 45,371 shares of the company’s stock valued at $1,228,000 after buying an additional 9,036 shares during the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.

Alkermes Price Performance

Shares of ALKS opened at $26.53 on Tuesday. Alkermes plc has a 1 year low of $22.06 and a 1 year high of $32.88. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.99 and a quick ratio of 2.61. The company has a market capitalization of $4.49 billion, a price-to-earnings ratio of 10.49, a price-to-earnings-growth ratio of 0.56 and a beta of 0.46. The business has a 50-day moving average of $27.80 and a 200-day moving average of $25.88.

Wall Street Analyst Weigh In

Several analysts have weighed in on ALKS shares. The Goldman Sachs Group dropped their price objective on Alkermes from $32.00 to $30.00 and set a “buy” rating for the company in a report on Friday. Robert W. Baird boosted their price objective on Alkermes from $37.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. StockNews.com raised Alkermes from a “hold” rating to a “buy” rating in a research report on Sunday, July 28th. Cantor Fitzgerald lowered their price objective on Alkermes from $48.00 to $43.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, HC Wainwright reiterated a “neutral” rating and set a $37.00 price objective on shares of Alkermes in a research report on Friday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Alkermes has an average rating of “Moderate Buy” and an average price target of $34.90.

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.