Intech Investment Management LLC Buys New Shares in Alkermes plc (NASDAQ:ALKS)

Intech Investment Management LLC acquired a new stake in Alkermes plc (NASDAQ:ALKS - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 52,273 shares of the company's stock, valued at approximately $1,463,000.

Other hedge funds have also modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in shares of Alkermes during the third quarter valued at $29,000. Signaturefd LLC lifted its holdings in shares of Alkermes by 51.2% during the second 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 holdings in shares of Alkermes by 3,841.0% during the second quarter. Hexagon Capital Partners LLC now owns 1,537 shares of the company's stock valued at $37,000 after purchasing an additional 1,498 shares during the last quarter. GAMMA Investing LLC raised its position in Alkermes by 44.4% during the second quarter. GAMMA Investing LLC now owns 2,287 shares of the company's stock valued at $55,000 after buying an additional 703 shares during the period. Finally, Archer Investment Corp raised its position in Alkermes by 28.6% during the third quarter. Archer Investment Corp now owns 4,500 shares of the company's stock valued at $126,000 after buying an additional 1,000 shares during the period. 95.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ALKS. The Goldman Sachs Group dropped their price target on Alkermes from $32.00 to $30.00 and set a "buy" rating on the stock in a research report on Friday, October 25th. Cantor Fitzgerald dropped their price target on Alkermes from $48.00 to $43.00 and set an "overweight" rating on the stock in a research report on Friday, October 25th. JPMorgan Chase & Co. dropped their price target on Alkermes from $32.00 to $26.00 and set a "neutral" rating on the stock in a research report on Friday, October 25th. Stifel Nicolaus raised Alkermes from a "hold" rating to a "buy" rating and upped their price target for the company from $25.00 to $36.00 in a research report on Tuesday, November 5th. Finally, HC Wainwright reissued a "neutral" rating and set a $37.00 price target on shares of Alkermes in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, Alkermes has an average rating of "Moderate Buy" and a consensus target price of $35.42.

Insiders Place Their Bets

In other news, EVP Craig C. Hopkinson sold 58,996 shares of the company's stock in a transaction that occurred on Monday, November 11th. The stock was 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 directly owns 83,300 shares in the company, valued at $2,505,664. The trade was a 41.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.89% of the company's stock.

Alkermes Stock Performance

ALKS traded down $0.11 on Tuesday, hitting $29.25. The company had a trading volume of 1,462,677 shares, compared to its average volume of 1,829,388. The stock has a market cap of $4.73 billion, a price-to-earnings ratio of 15.00, a price-to-earnings-growth ratio of 0.96 and a beta of 0.47. 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's fifty day moving average price is $27.95 and its 200 day moving average price is $26.45. Alkermes plc has a 1-year low of $22.22 and a 1-year high of $32.88.

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.