Verition Fund Management LLC Has $405,000 Stake in Alkermes plc (NASDAQ:ALKS)

Verition Fund Management LLC grew its holdings in Alkermes plc (NASDAQ:ALKS) by 68.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,455 shares of the company’s stock after buying an additional 5,863 shares during the period. Verition Fund Management LLC’s holdings in Alkermes were worth $405,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ALKS. CWM LLC lifted its position in shares of Alkermes by 190.3% in the second quarter. CWM LLC now owns 7,932 shares of the company’s stock valued at $191,000 after buying an additional 5,200 shares during the last quarter. Wedge Capital Management L L P NC acquired a new stake in shares of Alkermes in the second quarter valued at approximately $2,662,000. Assenagon Asset Management S.A. lifted its position in shares of Alkermes by 23.1% in the second quarter. Assenagon Asset Management S.A. now owns 86,451 shares of the company’s stock valued at $2,083,000 after buying an additional 16,195 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Alkermes by 52.9% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 13,000 shares of the company’s stock worth $313,000 after purchasing an additional 4,500 shares during the last quarter. Finally, Summit Global Investments lifted its holdings in Alkermes by 17.3% during the 2nd quarter. Summit Global Investments now owns 46,808 shares of the company’s stock worth $1,128,000 after purchasing an additional 6,913 shares during the last quarter. 95.21% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Alkermes

In related news, EVP Craig C. Hopkinson sold 10,471 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $29.53, for a total transaction of $309,208.63. Following the sale, the executive vice president now owns 99,238 shares in the company, valued at $2,930,498.14. This represents a 9.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Christian Todd Nichols sold 5,208 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $29.15, for a total value of $151,813.20. Following the sale, the senior vice president now owns 60,703 shares in the company, valued at approximately $1,769,492.45. The trade was a 7.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 147,738 shares of company stock worth $4,572,904 in the last 90 days. Corporate insiders own 4.89% of the company’s stock.

Alkermes Trading Down 1.4 %

Shares of ALKS stock opened at $30.50 on Friday. Alkermes plc has a 1-year low of $22.90 and a 1-year high of $32.88. The company has a current ratio of 3.45, a quick ratio of 3.03 and a debt-to-equity ratio of 0.22. The stock has a 50-day moving average of $28.47 and a 200-day moving average of $26.90. The stock has a market cap of $4.93 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 1.05 and a beta of 0.49.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ALKS shares. Cantor Fitzgerald cut their target price on Alkermes from $48.00 to $43.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. The Goldman Sachs Group lowered their price target on Alkermes from $32.00 to $30.00 and set a “buy” rating for the company in a report on Friday, October 25th. HC Wainwright reaffirmed a “neutral” rating and issued a $37.00 target price on shares of Alkermes in a report on Friday, October 25th. JPMorgan Chase & Co. lowered their target price on Alkermes from $32.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Finally, Stifel Nicolaus raised Alkermes from a “hold” rating to a “buy” rating and upped their target price for the stock from $25.00 to $36.00 in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.42.

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.