Alkermes plc (NASDAQ:ALKS) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. decreased its holdings in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 26.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,165,390 shares of the company's stock after selling 1,475,252 shares during the period. Pacer Advisors Inc. owned about 2.57% of Alkermes worth $116,589,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of ALKS. Price T Rowe Associates Inc. MD increased its holdings in Alkermes by 421.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,326,256 shares of the company's stock valued at $225,393,000 after acquiring an additional 6,730,671 shares during the last quarter. Armistice Capital LLC increased its stake in Alkermes by 301.5% in the 2nd quarter. Armistice Capital LLC now owns 2,699,179 shares of the company's stock worth $65,050,000 after buying an additional 2,026,961 shares during the period. American Century Companies Inc. raised its stake in shares of Alkermes by 87.1% during the second quarter. American Century Companies Inc. now owns 2,203,456 shares of the company's stock valued at $53,103,000 after acquiring an additional 1,025,905 shares in the last quarter. Affinity Asset Advisors LLC raised its position in Alkermes by 766.7% during the 2nd quarter. Affinity Asset Advisors LLC now owns 650,000 shares of the company's stock valued at $15,665,000 after purchasing an additional 575,000 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in Alkermes by 89.4% in the second quarter. AQR Capital Management LLC now owns 803,504 shares of the company's stock worth $19,364,000 after acquiring an additional 379,240 shares during the period. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ALKS shares. The Goldman Sachs Group reduced their price target on Alkermes from $32.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, October 25th. StockNews.com raised shares of Alkermes from a "hold" rating to a "buy" rating in a report on Sunday, July 28th. Robert W. Baird boosted their price target on Alkermes from $37.00 to $38.00 and gave the company an "outperform" rating in a report on Thursday, July 25th. Cantor Fitzgerald dropped their price target on shares of Alkermes from $48.00 to $43.00 and set an "overweight" rating on the stock in a research report on Friday, October 25th. Finally, Stifel Nicolaus upgraded Alkermes from a "hold" rating to a "buy" rating and boosted their price objective for the company from $25.00 to $36.00 in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $35.42.

Alkermes Trading Up 3.9 %

Shares of Alkermes stock traded up $1.08 during mid-day trading on Friday, hitting $28.78. The stock had a trading volume of 2,150,832 shares, compared to its average volume of 1,830,134. The firm has a 50-day moving average of $27.86 and a two-hundred day moving average of $26.32. The firm has a market cap of $4.66 billion, a P/E ratio of 14.25, a price-to-earnings-growth ratio of 0.91 and a beta of 0.47. The company has a quick ratio of 3.03, a current ratio of 3.45 and a debt-to-equity ratio of 0.22. Alkermes plc has a 12-month low of $22.22 and a 12-month high of $32.88.

Insider Activity

In other news, EVP Craig C. Hopkinson sold 10,471 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $29.53, for a total transaction of $309,208.63. Following the sale, the executive vice president now owns 99,238 shares of the company's stock, valued at approximately $2,930,498.14. This represents a 9.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.89% of the company's stock.

Alkermes Company 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.