Alkermes plc (NASDAQ:ALKS) Shares Bought by Advisors Asset Management Inc.

Advisors Asset Management Inc. grew its holdings in Alkermes plc (NASDAQ:ALKS) by 21.1% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 10,158 shares of the company’s stock after buying an additional 1,771 shares during the period. Advisors Asset Management Inc.’s holdings in Alkermes were worth $284,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Bayesian Capital Management LP acquired a new stake in shares of Alkermes during the first quarter worth $333,000. Tidal Investments LLC purchased a new position in shares of Alkermes during the 1st quarter worth approximately $441,000. Teachers Retirement System of The State of Kentucky lifted its holdings 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 acquiring an additional 45,903 shares during the period. GAMMA Investing LLC boosted its position 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 purchasing an additional 703 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in shares of Alkermes by 120.3% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 47,812 shares of the company’s stock worth $1,152,000 after purchasing an additional 26,112 shares during the period. Institutional investors and hedge funds own 95.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. HC Wainwright reiterated a “neutral” rating and issued a $37.00 price objective on shares of Alkermes in a research note on Friday, October 25th. Stifel Nicolaus raised Alkermes from a “hold” rating to a “buy” rating and boosted their price target for the stock from $25.00 to $36.00 in a research note on Tuesday, November 5th. Cantor Fitzgerald dropped their price objective on Alkermes from $48.00 to $43.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Mizuho boosted their target price on Alkermes from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. cut their price target on Alkermes from $32.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $35.42.

Insider Buying and Selling at Alkermes

In related news, EVP Craig C. Hopkinson sold 10,471 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $29.53, for a total value of $309,208.63. Following the completion of the transaction, the executive vice president now directly owns 99,238 shares in the company, valued at approximately $2,930,498.14. This represents a 9.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Christian Todd Nichols sold 5,208 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $29.15, for a total value of $151,813.20. Following the completion of the sale, the senior vice president now directly owns 60,703 shares in the company, valued at approximately $1,769,492.45. The trade was a 7.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 74,675 shares of company stock worth $2,235,622. Insiders own 4.89% of the company’s stock.

Alkermes Stock Performance

Shares of ALKS opened at $29.32 on Friday. Alkermes plc has a 1 year low of $22.22 and a 1 year high of $32.88. The company’s 50 day simple moving average is $28.00 and its 200 day simple moving average is $26.49. The company has a market capitalization of $4.74 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 0.98 and a beta of 0.47. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.03 and a current ratio of 3.45.

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.