Primecap Management Co. CA lessened its stake in Alkermes plc (NASDAQ:ALKS - Free Report) by 2.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,297,115 shares of the company's stock after selling 88,680 shares during the period. Primecap Management Co. CA owned about 2.04% of Alkermes worth $92,286,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the stock. V Square Quantitative Management LLC bought a new stake in Alkermes in the third quarter valued at approximately $29,000. Signaturefd LLC boosted its stake in shares of Alkermes by 51.2% in 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 increased its position 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 buying an additional 1,498 shares during the period. GAMMA Investing LLC raised its stake in Alkermes by 44.4% during 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 acquired a new position in Alkermes in the second quarter valued at $116,000. Institutional investors and hedge funds own 95.21% of the company's stock.
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 value of $1,774,599.68. Following the completion of the transaction, the executive vice president now directly owns 83,300 shares of the company's stock, valued at $2,505,664. This represents a 41.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 4.89% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on ALKS. HC Wainwright reiterated a "neutral" rating and set a $37.00 price target on shares of Alkermes in a report on Friday, October 25th. JPMorgan Chase & Co. decreased their target price on Alkermes from $32.00 to $26.00 and set a "neutral" rating for the company in a research note on Friday, October 25th. 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 note on Friday, October 25th. Stifel Nicolaus upgraded Alkermes from a "hold" rating to a "buy" rating and increased their price target for the stock from $25.00 to $36.00 in a report on Tuesday, November 5th. Finally, Mizuho lifted their price objective on shares of Alkermes from $35.00 to $40.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $35.42.
Check Out Our Latest Stock Analysis on Alkermes
Alkermes Stock Up 3.9 %
ALKS stock traded up $1.08 during mid-day trading on Friday, reaching $28.78. 2,150,832 shares of the company traded hands, compared to its average volume of 1,830,134. 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's 50 day moving average price is $27.86 and its 200 day moving average price is $26.32. The stock has a market cap of $4.66 billion, a price-to-earnings ratio of 14.25, a P/E/G ratio of 0.91 and a beta of 0.47. Alkermes plc has a fifty-two week low of $22.22 and a fifty-two week high of $32.88.
Alkermes Profile
(
Free Report)
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.
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