Alkermes plc (NASDAQ:ALKS) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its position in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 42.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 119,775 shares of the company's stock after selling 89,760 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.07% of Alkermes worth $3,353,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ALKS. Measured Wealth Private Client Group LLC raised its position in Alkermes by 28.5% during the first quarter. Measured Wealth Private Client Group LLC now owns 9,682 shares of the company's stock valued at $262,000 after acquiring an additional 2,148 shares in the last quarter. First Trust Direct Indexing L.P. acquired a new position in shares of Alkermes in the 1st quarter valued at $222,000. Capstone Investment Advisors LLC acquired a new position in shares of Alkermes in the 1st quarter valued at $883,000. Daiwa Securities Group Inc. boosted its holdings in Alkermes by 380.5% during the first quarter. Daiwa Securities Group Inc. now owns 8,461 shares of the company's stock worth $229,000 after buying an additional 6,700 shares in the last quarter. Finally, Jennison Associates LLC raised its position in shares of Alkermes by 24.9% during the 1st quarter. Jennison Associates LLC now owns 45,371 shares of the company's stock worth $1,228,000 after purchasing an additional 9,036 shares during the last quarter. 95.21% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ALKS has been the subject of several research reports. Piper Sandler reiterated an "overweight" rating and set a $37.00 price objective (down from $38.00) on shares of Alkermes in a research note on Friday. 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 research note on Friday. Robert W. Baird raised their target price on shares of Alkermes from $37.00 to $38.00 and gave the stock an "outperform" rating in a research note on Thursday, July 25th. Cantor Fitzgerald dropped their price target on Alkermes from $48.00 to $43.00 and set an "overweight" rating for the company in a research report on Friday. Finally, HC Wainwright reiterated a "neutral" rating and set a $37.00 price objective on shares of Alkermes in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Alkermes currently has a consensus rating of "Moderate Buy" and a consensus price target of $34.90.

Alkermes Stock Down 0.3 %

Alkermes stock traded down $0.09 during mid-day trading on Tuesday, reaching $26.44. 1,530,511 shares of the company's stock were exchanged, compared to its average volume of 1,846,068. The company has a market cap of $4.47 billion, a P/E ratio of 10.49, a P/E/G ratio of 0.56 and a beta of 0.46. The company has a fifty day moving average of $27.80 and a 200-day moving average of $25.88. Alkermes plc has a twelve month low of $22.06 and a twelve month high of $32.88. The company has a quick ratio of 2.61, a current ratio of 2.99 and a debt-to-equity ratio of 0.22.

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.