Charles Schwab Investment Management Inc. Has $58.98 Million Stock Position in Alkermes plc (NASDAQ:ALKS)

Charles Schwab Investment Management Inc. trimmed its position in Alkermes plc (NASDAQ:ALKS - Free Report) by 11.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,107,049 shares of the company's stock after selling 275,518 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.30% of Alkermes worth $58,976,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Tidal Investments LLC bought a new position in shares of Alkermes during the first quarter worth approximately $441,000. Teachers Retirement System of The State of Kentucky raised its holdings in Alkermes by 26.2% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 221,257 shares of the company's stock valued at $5,990,000 after acquiring an additional 45,903 shares in the last quarter. GAMMA Investing LLC raised its holdings in Alkermes by 44.4% in the 2nd quarter. GAMMA Investing LLC now owns 2,287 shares of the company's stock valued at $55,000 after acquiring an additional 703 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in Alkermes by 120.3% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 47,812 shares of the company's stock valued at $1,152,000 after acquiring an additional 26,112 shares in the last quarter. Finally, CWM LLC lifted its position in shares of Alkermes by 190.3% during the 2nd quarter. CWM LLC now owns 7,932 shares of the company's stock valued at $191,000 after acquiring an additional 5,200 shares during the period. Institutional investors and hedge funds own 95.21% of the company's stock.

Alkermes Trading Down 1.0 %

Shares of NASDAQ:ALKS traded down $0.30 during midday trading on Friday, hitting $29.02. 550,117 shares of the stock were exchanged, compared to its average volume of 1,820,018. The business's 50-day moving average price is $28.01 and its 200 day moving average price is $26.52. Alkermes plc has a 12 month low of $22.90 and a 12 month high of $32.88. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.03 and a current ratio of 3.45. The stock has a market capitalization of $4.70 billion, a price-to-earnings ratio of 14.88, a P/E/G ratio of 0.97 and a beta of 0.47.

Insider Transactions at Alkermes

In other news, SVP Christian Todd Nichols sold 5,208 shares of the company's stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $29.15, for a total value of $151,813.20. Following the sale, the senior vice president now directly owns 60,703 shares of the company's stock, valued at approximately $1,769,492.45. This represents a 7.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Craig C. Hopkinson sold 10,471 shares of Alkermes stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $29.53, for a total transaction of $309,208.63. Following the transaction, the executive vice president now directly owns 99,238 shares of the company's stock, valued at $2,930,498.14. This represents a 9.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 74,675 shares of company stock worth $2,235,622. Company insiders own 4.89% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Mizuho boosted their price target on Alkermes from $35.00 to $40.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. Stifel Nicolaus upgraded shares of Alkermes from a "hold" rating to a "buy" rating and boosted their target price for the company from $25.00 to $36.00 in a research report on Tuesday, November 5th. HC Wainwright reiterated a "neutral" rating and set a $37.00 price target on shares of Alkermes in a research report on Friday, October 25th. The Goldman Sachs Group lowered 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. Finally, Cantor Fitzgerald reduced their target price on Alkermes from $48.00 to $43.00 and set an "overweight" rating on the stock in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $35.42.

Alkermes 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.