State of Alaska Department of Revenue Trims Stock Position in Alkermes plc (NASDAQ:ALKS)

State of Alaska Department of Revenue decreased its holdings in Alkermes plc (NASDAQ:ALKS) by 5.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 93,969 shares of the company’s stock after selling 5,384 shares during the period. State of Alaska Department of Revenue’s holdings in Alkermes were worth $2,630,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ALKS. V Square Quantitative Management LLC acquired a new stake in shares of Alkermes in the third quarter worth approximately $29,000. Signaturefd LLC boosted 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 purchasing an additional 480 shares during the last quarter. Hexagon Capital Partners LLC grew its stake in shares of Alkermes by 3,841.0% during the 2nd quarter. Hexagon Capital Partners LLC now owns 1,537 shares of the company’s stock valued at $37,000 after buying an additional 1,498 shares during the period. GAMMA Investing LLC increased its holdings in shares of Alkermes by 44.4% during the 2nd quarter. GAMMA Investing LLC now owns 2,287 shares of the company’s stock worth $55,000 after buying an additional 703 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Alkermes in the 2nd quarter worth $116,000. Institutional investors and hedge funds own 95.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ALKS. JPMorgan Chase & Co. lowered their price target on Alkermes from $32.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Cantor Fitzgerald cut their price target on shares of Alkermes from $48.00 to $43.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Piper Sandler reiterated an “overweight” rating and set a $37.00 price objective (down from $38.00) on shares of Alkermes in a research note on Friday, October 25th. StockNews.com raised shares of Alkermes from a “hold” rating to a “buy” rating in a research note on Sunday, July 28th. Finally, HC Wainwright reaffirmed a “neutral” rating and set a $37.00 price target on shares of Alkermes in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.90.

Alkermes Trading Down 2.3 %

NASDAQ:ALKS opened at $25.70 on Friday. Alkermes plc has a one year low of $22.06 and a one year high of $32.88. The business’s 50-day simple moving average is $27.68 and its 200 day simple moving average is $25.89. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.61 and a current ratio of 2.99. The stock has a market cap of $4.16 billion, a price-to-earnings ratio of 13.18, a price-to-earnings-growth ratio of 0.56 and a beta of 0.46.

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.