JPMorgan Chase & Co. Sells 46,577 Shares of Alkermes plc (NASDAQ:ALKS)

JPMorgan Chase & Co. trimmed its position in shares of Alkermes plc (NASDAQ:ALKS) by 11.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 359,510 shares of the company’s stock after selling 46,577 shares during the period. JPMorgan Chase & Co.’s holdings in Alkermes were worth $10,063,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the company. V Square Quantitative Management LLC bought a new stake in Alkermes in the third quarter valued at approximately $29,000. GAMMA Investing LLC grew its holdings 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 buying an additional 1,917 shares in the last quarter. Archer Investment Corp grew its holdings in Alkermes by 28.6% in the 3rd quarter. Archer Investment Corp now owns 4,500 shares of the company’s stock valued at $126,000 after buying an additional 1,000 shares in the last quarter. KBC Group NV increased its position in Alkermes by 18.8% during the 3rd quarter. KBC Group NV now owns 4,890 shares of the company’s stock worth $137,000 after buying an additional 774 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Alkermes by 17.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,956 shares of the company’s stock valued at $164,000 after purchasing an additional 904 shares during the period. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ALKS has been the subject of several analyst reports. The Goldman Sachs Group dropped their price objective on Alkermes from $32.00 to $30.00 and set a “buy” rating for the company in a report on Friday, October 25th. Cantor Fitzgerald lowered their price objective on shares of Alkermes from $48.00 to $43.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. JPMorgan Chase & Co. reduced their target price on Alkermes from $32.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Stifel Nicolaus raised shares of Alkermes from a “hold” rating to a “buy” rating and increased their target price for the stock from $25.00 to $36.00 in a report on Tuesday, November 5th. Finally, HC Wainwright reaffirmed a “neutral” rating and issued a $37.00 price objective on shares of Alkermes in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $36.00.

Alkermes Trading Down 1.2 %

NASDAQ:ALKS opened at $28.08 on Monday. The stock has a market capitalization of $4.54 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 1.03 and a beta of 0.49. The firm has a fifty day simple moving average of $29.29 and a two-hundred day simple moving average of $27.71. The company has a current ratio of 3.45, a quick ratio of 3.03 and a debt-to-equity ratio of 0.22. Alkermes plc has a 12 month low of $22.90 and a 12 month high of $32.88.

Insider Activity at Alkermes

In related news, Director Cato T. Laurencin sold 2,691 shares of Alkermes 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 sale, the director now directly owns 23,013 shares in the company, valued at approximately $732,964.05. This trade represents a 10.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Craig C. Hopkinson sold 10,471 shares of the firm’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 of the company’s stock, valued at $2,930,498.14. This trade represents a 9.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 147,738 shares of company stock valued at $4,572,904 in the last three months. Corporate 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.