Intech Investment Management LLC Buys Shares of 52,273 Alkermes plc (NASDAQ:ALKS)

Intech Investment Management LLC bought a new stake in Alkermes plc (NASDAQ:ALKS) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 52,273 shares of the company’s stock, valued at approximately $1,463,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wedge Capital Management L L P NC purchased a new stake in Alkermes in the second quarter valued at approximately $2,662,000. Lazard Asset Management LLC raised its position in Alkermes by 655.0% in the first quarter. Lazard Asset Management LLC now owns 77,102 shares of the company’s stock valued at $2,087,000 after purchasing an additional 66,890 shares during the period. Harbor Capital Advisors Inc. raised its position in Alkermes by 120.3% in the second quarter. Harbor Capital Advisors Inc. now owns 47,812 shares of the company’s stock valued at $1,152,000 after purchasing an additional 26,112 shares during the period. Teachers Retirement System of The State of Kentucky raised its position in Alkermes by 26.2% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 221,257 shares of the company’s stock valued at $5,990,000 after purchasing an additional 45,903 shares during the period. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Alkermes in the second quarter valued at approximately $1,285,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Insider Buying and Selling at Alkermes

In other Alkermes news, EVP Craig C. Hopkinson sold 58,996 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $30.08, for a total value of $1,774,599.68. Following the completion of the transaction, the executive vice president now owns 83,300 shares in the company, valued at $2,505,664. This represents a 41.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.89% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ALKS. The Goldman Sachs Group cut their price objective on Alkermes from $32.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Mizuho upped their price objective on Alkermes from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Stifel Nicolaus raised Alkermes from a “hold” rating to a “buy” rating and upped their price objective for the stock from $25.00 to $36.00 in a research report on Tuesday, November 5th. Piper Sandler reaffirmed an “overweight” rating and set a $37.00 price objective (down previously from $38.00) on shares of Alkermes in a research report on Friday, October 25th. Finally, HC Wainwright reaffirmed a “neutral” rating and set a $37.00 price objective on shares of Alkermes in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $35.42.

Alkermes Stock Performance

NASDAQ ALKS opened at $29.36 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.45 and a quick ratio of 3.03. Alkermes plc has a 1 year low of $22.22 and a 1 year high of $32.88. The company has a market capitalization of $4.75 billion, a PE ratio of 15.06, a P/E/G ratio of 0.96 and a beta of 0.47. The company has a fifty day moving average of $27.92 and a two-hundred day moving average of $26.42.

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.