SG Americas Securities LLC lowered its stake in Alkermes plc (NASDAQ:ALKS - Free Report) by 45.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,116 shares of the company's stock after selling 9,283 shares during the period. SG Americas Securities LLC's holdings in Alkermes were worth $320,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new position in shares of Alkermes during the third quarter valued at about $29,000. GAMMA Investing LLC increased its position in Alkermes by 83.8% in the third quarter. GAMMA Investing LLC now owns 4,204 shares of the company's stock worth $118,000 after purchasing an additional 1,917 shares during the last quarter. Archer Investment Corp lifted its stake in Alkermes by 28.6% in the third quarter. Archer Investment Corp now owns 4,500 shares of the company's stock worth $126,000 after acquiring an additional 1,000 shares during the period. KBC Group NV increased its holdings in Alkermes by 18.8% in 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. lifted its position in shares of Alkermes by 17.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,956 shares of the company's stock valued at $164,000 after buying an additional 904 shares in the last quarter. 95.21% of the stock is owned by institutional investors and hedge funds.
Alkermes Stock Up 0.6 %
ALKS stock traded up $0.18 during mid-day trading on Friday, hitting $31.57. 2,081,743 shares of the company were exchanged, compared to its average volume of 1,335,446. Alkermes plc has a twelve month low of $22.90 and a twelve month high of $32.88. The company has a market capitalization of $5.11 billion, a PE ratio of 16.19, a price-to-earnings-growth ratio of 1.83 and a beta of 0.49. The firm has a fifty day simple moving average of $30.08 and a 200 day simple moving average of $28.56. The company has a current ratio of 3.45, a quick ratio of 3.03 and a debt-to-equity ratio of 0.22.
Insider Buying and Selling
In other Alkermes news, Director Cato T. Laurencin sold 2,691 shares of the stock in a transaction that occurred 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 owns 23,013 shares of the company's stock, valued at $732,964.05. This represents a 10.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Christian Todd Nichols sold 5,208 shares of Alkermes stock in a transaction dated Wednesday, November 27th. The stock was 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 $1,769,492.45. This trade represents a 7.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 238,185 shares of company stock valued at $7,498,117 in the last 90 days. 4.89% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on ALKS. The Goldman Sachs Group dropped 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. Piper Sandler reissued an "overweight" rating and issued a $37.00 target price (down from $38.00) on shares of Alkermes in a report on Friday, October 25th. Cantor Fitzgerald dropped their price objective on Alkermes from $48.00 to $43.00 and set an "overweight" rating on the stock in a research note on Friday, October 25th. JPMorgan Chase & Co. reduced their price objective on Alkermes from $32.00 to $26.00 and set a "neutral" rating for the company in a report on Friday, October 25th. Finally, Mizuho boosted their price objective on shares of Alkermes from $35.00 to $40.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Alkermes currently has an average rating of "Moderate Buy" and an average price target of $36.00.
Get Our Latest Stock Analysis on Alkermes
Alkermes Company 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.
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