Loomis Sayles & Co. L P Purchases 1,478,422 Shares of Alkermes plc (NASDAQ:ALKS)

Loomis Sayles & Co. L P lifted its stake in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 365.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,882,936 shares of the company's stock after purchasing an additional 1,478,422 shares during the quarter. Loomis Sayles & Co. L P owned 1.16% of Alkermes worth $52,704,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in shares of Alkermes during the third quarter worth $29,000. Signaturefd LLC grew 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 worth $34,000 after purchasing an additional 480 shares during the last quarter. Hexagon Capital Partners LLC grew 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 worth $37,000 after purchasing an additional 1,498 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Alkermes by 44.4% in 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, Ashton Thomas Private Wealth LLC bought a new position in Alkermes in the 2nd quarter valued at approximately $116,000. Institutional investors own 95.21% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. The Goldman Sachs Group reduced their target price on shares of Alkermes from $32.00 to $30.00 and set a "buy" rating on the stock in a report on Friday, October 25th. Mizuho increased their price objective on Alkermes from $35.00 to $40.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. Stifel Nicolaus raised Alkermes from a "hold" rating to a "buy" rating and raised their target price for the stock from $25.00 to $36.00 in a research report on Tuesday, November 5th. HC Wainwright reiterated a "neutral" rating and issued a $37.00 price target on shares of Alkermes in a research report on Friday, October 25th. Finally, Piper Sandler restated 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. One investment 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. Based on data from MarketBeat, Alkermes currently has an average rating of "Moderate Buy" and a consensus price target of $35.42.

Insider Buying and Selling

In related news, EVP Craig C. Hopkinson sold 58,996 shares of the firm's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $30.08, for a total value of $1,774,599.68. Following the transaction, the executive vice president now owns 83,300 shares of the company's stock, valued at approximately $2,505,664. This trade represents a 41.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.89% of the stock is owned by company insiders.

Alkermes Stock Down 0.4 %

NASDAQ:ALKS traded down $0.11 during trading hours on Tuesday, reaching $29.25. The company had a trading volume of 1,462,677 shares, compared to its average volume of 1,829,388. Alkermes plc has a twelve month low of $22.22 and a twelve month high of $32.88. The company has a quick ratio of 3.03, a current ratio of 3.45 and a debt-to-equity ratio of 0.22. The firm has a market cap of $4.73 billion, a price-to-earnings ratio of 15.00, a P/E/G ratio of 0.96 and a beta of 0.47. The business's 50-day simple moving average is $27.95 and its two-hundred day simple moving average is $26.45.

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.