Eagle Asset Management Inc. Trims Holdings in Alkermes plc (NASDAQ:ALKS)

Eagle Asset Management Inc. trimmed its holdings in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 28.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 378,718 shares of the company's stock after selling 153,030 shares during the period. Eagle Asset Management Inc. owned approximately 0.23% of Alkermes worth $10,930,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. V Square Quantitative Management LLC bought a new stake in shares of Alkermes in the third quarter worth $29,000. Signaturefd LLC increased its position in shares of Alkermes by 51.2% during the 2nd quarter. Signaturefd LLC now owns 1,417 shares of the company's stock valued at $34,000 after purchasing an additional 480 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in shares of Alkermes by 3,841.0% in the 2nd quarter. Hexagon Capital Partners LLC now owns 1,537 shares of the company's stock worth $37,000 after purchasing an additional 1,498 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Alkermes by 44.4% in the second quarter. GAMMA Investing LLC now owns 2,287 shares of the company's stock worth $55,000 after buying an additional 703 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Alkermes during the second quarter valued at approximately $116,000. Institutional investors own 95.21% of the company's stock.

Insiders Place Their Bets

In related news, EVP Craig C. Hopkinson sold 10,471 shares of the firm's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $29.53, for a total value of $309,208.63. Following the completion of the sale, the executive vice president now directly owns 99,238 shares in the company, valued at $2,930,498.14. This trade represents a 9.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.89% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Mizuho boosted their price objective on shares of Alkermes from $35.00 to $40.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Piper Sandler restated an "overweight" rating and issued a $37.00 price target (down previously 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 research report on Friday, October 25th. Cantor Fitzgerald reduced their target price on shares of Alkermes from $48.00 to $43.00 and set an "overweight" rating for the company in a report on Friday, October 25th. Finally, StockNews.com raised shares of Alkermes from a "hold" rating to a "buy" rating in a report on Sunday, July 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Alkermes presently has a consensus rating of "Moderate Buy" and an average price target of $35.42.

Alkermes Price Performance

Shares of ALKS stock traded up $1.08 on Friday, reaching $28.78. The company's stock had a trading volume of 2,150,840 shares, compared to its average volume of 1,707,784. 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 1 year low of $22.22 and a 1 year high of $32.88. The stock's fifty day simple moving average is $27.89 and its 200-day simple moving average is $26.36. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of 14.76, a price-to-earnings-growth ratio of 0.92 and a beta of 0.47.

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.