Alkermes plc (NASDAQ:ALKS) Shares Purchased by Diversified Trust Co

Diversified Trust Co increased its holdings in Alkermes plc (NASDAQ:ALKS) by 11.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 42,509 shares of the company’s stock after purchasing an additional 4,378 shares during the quarter. Diversified Trust Co’s holdings in Alkermes were worth $1,223,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new stake in shares of Alkermes in the third quarter valued at approximately $29,000. GAMMA Investing LLC grew its stake in Alkermes by 83.8% in the 3rd quarter. GAMMA Investing LLC now owns 4,204 shares of the company’s stock valued at $118,000 after acquiring an additional 1,917 shares during the period. Archer Investment Corp increased its holdings in Alkermes by 28.6% in the 3rd quarter. Archer Investment Corp now owns 4,500 shares of the company’s stock worth $126,000 after acquiring an additional 1,000 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Alkermes during the second quarter worth $116,000. Finally, KBC Group NV lifted its holdings in Alkermes by 18.8% during the third quarter. KBC Group NV now owns 4,890 shares of the company’s stock valued at $137,000 after purchasing an additional 774 shares in the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Alkermes Price Performance

Alkermes stock opened at $28.42 on Thursday. 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 market cap of $4.60 billion, a P/E ratio of 14.57, a PEG ratio of 1.03 and a beta of 0.49. The company has a 50-day moving average price of $29.21 and a 200 day moving average price of $27.63. Alkermes plc has a 12-month low of $22.90 and a 12-month high of $32.88.

Analysts Set New Price Targets

Several research firms recently weighed in on ALKS. Stifel Nicolaus upgraded shares of Alkermes from a “hold” rating to a “buy” rating and upped their price target for the stock from $25.00 to $36.00 in a research report on Tuesday, November 5th. Cantor Fitzgerald reduced their target price on Alkermes from $48.00 to $43.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Mizuho lifted their price target on Alkermes from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Piper Sandler reissued an “overweight” rating and issued a $37.00 price objective (down from $38.00) on shares of Alkermes in a research note on Friday, October 25th. Finally, The Goldman Sachs Group decreased their price objective on Alkermes from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $36.00.

Insider Transactions at Alkermes

In other news, Director Cato T. Laurencin sold 2,691 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $31.85, for a total transaction of $85,708.35. Following the completion of the transaction, the director now directly owns 23,013 shares in the company, valued at approximately $732,964.05. This represents a 10.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Craig C. Hopkinson sold 58,996 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $30.08, for a total transaction of $1,774,599.68. Following the completion of the sale, the executive vice president now owns 83,300 shares in the company, valued at approximately $2,505,664. This trade represents a 41.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 147,738 shares of company stock worth $4,572,904 in the last 90 days. Insiders own 4.89% of the company’s stock.

Alkermes Company 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.