abrdn plc Sells 148,223 Shares of Alkermes plc (NASDAQ:ALKS)

abrdn plc trimmed its position in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 37.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 244,319 shares of the company's stock after selling 148,223 shares during the quarter. abrdn plc owned approximately 0.15% of Alkermes worth $7,027,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ALKS. Creative Planning boosted its position in shares of Alkermes by 28.0% in the 2nd quarter. Creative Planning now owns 33,365 shares of the company's stock worth $804,000 after purchasing an additional 7,296 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Alkermes in the 2nd quarter worth approximately $228,000. SG Americas Securities LLC bought a new stake in shares of Alkermes in the 3rd quarter worth approximately $571,000. GAMMA Investing LLC boosted its position in shares of Alkermes by 83.8% in the 3rd quarter. GAMMA Investing LLC now owns 4,204 shares of the company's stock worth $118,000 after purchasing an additional 1,917 shares in the last quarter. Finally, CWM LLC boosted its position in shares of Alkermes by 83.4% in the 3rd quarter. CWM LLC now owns 14,547 shares of the company's stock worth $407,000 after purchasing an additional 6,615 shares in the last quarter. 95.21% of the stock is owned by institutional investors.

Insider Transactions at Alkermes

In other Alkermes news, EVP Craig C. Hopkinson sold 100,918 shares of the stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $32.05, for a total value of $3,234,421.90. Following the completion of the sale, the executive vice president now owns 44,290 shares in the company, valued at approximately $1,419,494.50. This represents a 69.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Christian Todd Nichols sold 5,208 shares of the stock in a transaction on 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 owns 60,703 shares of the company's stock, valued at $1,769,492.45. The trade was a 7.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 179,189 shares of company stock worth $5,723,518 in the last three months. Corporate insiders own 4.89% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ALKS. JPMorgan Chase & Co. lowered their price objective on Alkermes from $32.00 to $26.00 and set a "neutral" rating on the stock in a research report on Friday, October 25th. Piper Sandler reaffirmed an "overweight" rating and issued a $37.00 price objective (down from $38.00) on shares of Alkermes in a research report on Friday, October 25th. Stifel Nicolaus raised Alkermes from a "hold" rating to a "buy" rating and upped their price objective for the company from $25.00 to $36.00 in a research report on Tuesday, November 5th. Cantor Fitzgerald lowered their price objective on Alkermes from $48.00 to $43.00 and set an "overweight" rating on the stock in a research report on Friday, October 25th. Finally, Mizuho upped their price objective on Alkermes from $35.00 to $40.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $36.33.

Alkermes Stock Performance

Shares of NASDAQ:ALKS traded up $1.54 during midday trading on Wednesday, hitting $33.50. The company had a trading volume of 3,573,831 shares, compared to its average volume of 1,619,161. 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 company has a market cap of $5.42 billion, a price-to-earnings ratio of 17.18, a PEG ratio of 1.83 and a beta of 0.49. Alkermes plc has a 12-month low of $22.90 and a 12-month high of $33.73. The company has a fifty day moving average of $30.16 and a two-hundred day moving average of $28.65.

Alkermes (NASDAQ:ALKS - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.81 by $0.11. Alkermes had a return on equity of 24.92% and a net margin of 22.15%. On average, equities research analysts expect that Alkermes plc will post 2.23 EPS for the current fiscal year.

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.