Alkermes plc (NASDAQ:ALKS) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System trimmed its stake in Alkermes plc (NASDAQ:ALKS) by 6.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 79,600 shares of the company’s stock after selling 5,500 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Alkermes were worth $2,228,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of ALKS. First Trust Direct Indexing L.P. acquired a new stake in Alkermes in the 1st quarter valued at approximately $222,000. Capstone Investment Advisors LLC bought a new stake in shares of Alkermes during the first quarter valued at about $883,000. Daiwa Securities Group Inc. raised its stake in shares of Alkermes by 380.5% during the first 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. Jennison Associates LLC lifted its stake in shares of Alkermes by 24.9% in the 1st quarter. Jennison Associates LLC now owns 45,371 shares of the company’s stock worth $1,228,000 after acquiring an additional 9,036 shares during the period. Finally, Nicollet Investment Management Inc. lifted its position in Alkermes by 60.5% in the first quarter. Nicollet Investment Management Inc. now owns 43,992 shares of the company’s stock worth $1,191,000 after purchasing an additional 16,583 shares during the period. Institutional investors and hedge funds own 95.21% of the company’s stock.

Wall Street Analyst Weigh In

ALKS has been the topic of several research reports. Robert W. Baird boosted their price target on shares of Alkermes from $37.00 to $38.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. HC Wainwright reaffirmed 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 set a $37.00 target price (down from $38.00) on shares of Alkermes in a research note on Friday, October 25th. StockNews.com upgraded shares of Alkermes from a “hold” rating to a “buy” rating in a research report on Sunday, July 28th. Finally, Cantor Fitzgerald dropped their price target on Alkermes from $48.00 to $43.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Alkermes has an average rating of “Moderate Buy” and an average price target of $34.90.

Alkermes Price Performance

Shares of NASDAQ:ALKS opened at $26.44 on Wednesday. The company’s fifty day moving average is $27.76 and its two-hundred day moving average is $25.89. The company has a market cap of $4.47 billion, a P/E ratio of 10.45, a price-to-earnings-growth ratio of 0.56 and a beta of 0.46. Alkermes plc has a 12-month low of $22.06 and a 12-month high of $32.88. The company has a quick ratio of 2.61, a current ratio of 2.99 and a debt-to-equity ratio of 0.22.

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.