Pathstone Holdings LLC lifted its position in Alkermes plc (NASDAQ:ALKS - Free Report) by 72.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 71,324 shares of the company's stock after buying an additional 30,048 shares during the period. Pathstone Holdings LLC's holdings in Alkermes were worth $1,996,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also modified their holdings of the business. O Shaughnessy Asset Management LLC increased its stake in Alkermes by 21.2% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 11,976 shares of the company's stock worth $324,000 after acquiring an additional 2,097 shares during the last quarter. Advisors Asset Management Inc. lifted its position in Alkermes by 19.6% during the first quarter. Advisors Asset Management Inc. now owns 29,886 shares of the company's stock valued at $809,000 after acquiring an additional 4,891 shares during the last quarter. Lazard Asset Management LLC grew its stake in Alkermes by 655.0% during the 1st quarter. Lazard Asset Management LLC now owns 77,102 shares of the company's stock worth $2,087,000 after buying an additional 66,890 shares during the last quarter. Bayesian Capital Management LP acquired a new position in shares of Alkermes during the first quarter valued at about $333,000. Finally, Tidal Investments LLC purchased a new position in Alkermes in the 1st quarter worth $441,000. Hedge funds and other institutional investors own 95.21% of the company's stock.
Alkermes Stock Performance
Shares of NASDAQ ALKS traded up $0.07 during mid-day trading on Wednesday, hitting $29.32. The company had a trading volume of 943,190 shares, compared to its average volume of 1,823,413. The business's 50-day simple moving average is $27.95 and its 200-day simple moving average is $26.45. The firm has a market cap of $4.74 billion, a P/E ratio of 15.00, a PEG ratio of 0.98 and a beta of 0.47. Alkermes plc has a 12 month low of $22.22 and a 12 month 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.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on the stock. The Goldman Sachs Group decreased their price objective on shares of Alkermes from $32.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, October 25th. Stifel Nicolaus upgraded shares of Alkermes from a "hold" rating to a "buy" rating and boosted their price target for the stock from $25.00 to $36.00 in a research note on Tuesday, November 5th. Piper Sandler reaffirmed an "overweight" rating and set a $37.00 price objective (down from $38.00) on shares of Alkermes in a research report on Friday, October 25th. HC Wainwright reaffirmed a "neutral" rating and set a $37.00 price objective on shares of Alkermes in a report on Friday, October 25th. Finally, Cantor Fitzgerald reduced their price objective on Alkermes from $48.00 to $43.00 and set an "overweight" rating for the company in a research note on Friday, October 25th. 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. Based on data from MarketBeat.com, Alkermes presently has an average rating of "Moderate Buy" and an average price target of $35.42.
View Our Latest Stock Analysis on ALKS
Insider Transactions at Alkermes
In related news, EVP Craig C. Hopkinson sold 58,996 shares of the business's stock in a transaction that occurred on 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 transaction, the executive vice president now owns 83,300 shares in the company, valued at approximately $2,505,664. The trade was a 41.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.89% of the company's stock.
Alkermes Profile
(
Free Report)
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.
Recommended Stories
Before you consider Alkermes, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alkermes wasn't on the list.
While Alkermes currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
