Aigen Investment Management LP Makes New Investment in Alkermes plc (NASDAQ:ALKS)

Aigen Investment Management LP purchased a new stake in Alkermes plc (NASDAQ:ALKS) during the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 7,734 shares of the company’s stock, valued at approximately $216,000.

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

Alkermes Stock Performance

Shares of ALKS opened at $28.19 on Friday. The company has a quick ratio of 3.03, a current ratio of 3.45 and a debt-to-equity ratio of 0.22. Alkermes plc has a 12 month low of $22.06 and a 12 month high of $32.88. The company’s fifty day moving average is $27.79 and its 200-day moving average is $26.22. The firm has a market cap of $4.56 billion, a price-to-earnings ratio of 14.46, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47.

Insiders Place Their Bets

In related news, EVP Craig C. Hopkinson sold 58,996 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $30.08, for a total value of $1,774,599.68. Following the completion of the sale, the executive vice president now directly owns 83,300 shares in the company, valued at approximately $2,505,664. The trade was a 41.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 4.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ALKS shares. JPMorgan Chase & Co. cut their price target on shares of Alkermes from $32.00 to $26.00 and set a “neutral” rating on the stock in a report 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. The Goldman Sachs Group decreased their target price on Alkermes from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Mizuho upped their price target on Alkermes from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Cantor Fitzgerald decreased their price objective on Alkermes from $48.00 to $43.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Alkermes presently has an average rating of “Moderate Buy” and an average price target of $35.42.

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.