Daiwa Securities Group Inc. Raises Holdings in Alkermes plc (NASDAQ:ALKS)

Daiwa Securities Group Inc. lifted its position in shares of Alkermes plc (NASDAQ:ALKS) by 56.9% in the 3rd quarter, Holdings Channel reports. The fund owned 13,241 shares of the company’s stock after buying an additional 4,800 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Alkermes were worth $371,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Armistice Capital LLC increased its stake in shares of Alkermes by 301.5% in the second quarter. Armistice Capital LLC now owns 2,699,179 shares of the company’s stock worth $65,050,000 after purchasing an additional 2,026,961 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Alkermes by 31.8% in the 2nd quarter. Pacer Advisors Inc. now owns 5,640,642 shares of the company’s stock worth $135,939,000 after buying an additional 1,362,079 shares during the period. American Century Companies Inc. grew its stake in Alkermes by 87.1% in the 2nd quarter. American Century Companies Inc. now owns 2,203,456 shares of the company’s stock valued at $53,103,000 after buying an additional 1,025,905 shares in the last quarter. Affinity Asset Advisors LLC raised its holdings in Alkermes by 766.7% during the 2nd quarter. Affinity Asset Advisors LLC now owns 650,000 shares of the company’s stock valued at $15,665,000 after acquiring an additional 575,000 shares during the period. Finally, AQR Capital Management LLC lifted its position in shares of Alkermes by 89.4% during the second quarter. AQR Capital Management LLC now owns 803,504 shares of the company’s stock worth $19,364,000 after acquiring an additional 379,240 shares in the last quarter. 95.21% of the stock is currently owned by institutional investors.

Alkermes Price Performance

Shares of Alkermes stock opened at $29.02 on Friday. The stock has a market capitalization of $4.70 billion, a P/E ratio of 14.88, a price-to-earnings-growth ratio of 0.97 and a beta of 0.47. Alkermes plc has a one year low of $22.90 and a one year high of $32.88. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.45 and a quick ratio of 3.03. The business’s 50 day simple moving average is $28.01 and its two-hundred day simple moving average is $26.54.

Analyst Ratings Changes

ALKS has been the subject of several recent research reports. JPMorgan Chase & Co. reduced 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. Piper Sandler reaffirmed an “overweight” rating and set a $37.00 target price (down previously from $38.00) on shares of Alkermes in a report on Friday, October 25th. Cantor Fitzgerald decreased their price target on Alkermes from $48.00 to $43.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Stifel Nicolaus upgraded shares of Alkermes from a “hold” rating to a “buy” rating and raised their price objective for the company from $25.00 to $36.00 in a research report on Tuesday, November 5th. Finally, HC Wainwright reaffirmed a “neutral” rating and set a $37.00 target price on shares of Alkermes in a 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 assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $35.42.

Insider Buying and Selling

In related news, SVP Christian Todd Nichols sold 5,208 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $29.15, for a total transaction of $151,813.20. Following the transaction, the senior vice president now owns 60,703 shares in the company, valued at $1,769,492.45. The trade was a 7.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Craig C. Hopkinson sold 10,471 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $29.53, for a total value of $309,208.63. Following the transaction, the executive vice president now directly owns 99,238 shares of the company’s stock, valued at $2,930,498.14. The trade was a 9.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 74,675 shares of company stock valued at $2,235,622 over the last three months. 4.89% of the stock is owned by company insiders.

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.