Alkermes plc (NASDAQ:ALKS) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its position in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 7.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 877,943 shares of the company's stock after selling 69,373 shares during the period. Principal Financial Group Inc. owned approximately 0.54% of Alkermes worth $24,574,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ALKS. Robeco Institutional Asset Management B.V. raised its position in Alkermes by 92.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 95,509 shares of the company's stock valued at $2,673,000 after purchasing an additional 45,857 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Alkermes by 40.0% during the 3rd quarter. Van ECK Associates Corp now owns 104,986 shares of the company's stock valued at $2,924,000 after purchasing an additional 29,998 shares during the last quarter. James Investment Research Inc. purchased a new position in shares of Alkermes during the 3rd quarter valued at about $255,000. US Bancorp DE lifted its position in Alkermes by 48.8% in the 3rd quarter. US Bancorp DE now owns 10,302 shares of the company's stock worth $288,000 after buying an additional 3,378 shares during the last quarter. Finally, First Trust Direct Indexing L.P. boosted its stake in Alkermes by 12.7% in the third quarter. First Trust Direct Indexing L.P. now owns 9,571 shares of the company's stock worth $268,000 after buying an additional 1,080 shares in the last quarter. Institutional investors own 95.21% of the company's stock.

Alkermes Stock Performance

Shares of Alkermes stock traded down $0.11 on Wednesday, reaching $29.12. 350,567 shares of the stock were exchanged, compared to its average volume of 1,829,356. The firm has a market capitalization of $4.71 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 0.98 and a beta of 0.47. Alkermes plc has a twelve month low of $22.06 and a twelve month high of $32.88. The business has a 50 day moving average price of $27.71 and a two-hundred day moving average price of $26.16. The company has a quick ratio of 3.03, a current ratio of 3.45 and a debt-to-equity ratio of 0.22.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. StockNews.com upgraded Alkermes from a "hold" rating to a "buy" rating in a research report on Sunday, July 28th. Mizuho increased their price objective on Alkermes from $35.00 to $40.00 and gave the stock an "outperform" rating in a report on Wednesday. Robert W. Baird boosted their target price on Alkermes from $37.00 to $38.00 and gave the company an "outperform" rating in a research note on Thursday, July 25th. The Goldman Sachs Group dropped their price target on Alkermes from $32.00 to $30.00 and set a "buy" rating for the company in a research note on Friday, October 25th. Finally, Cantor Fitzgerald reduced their price objective 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $35.42.

Insider Activity

In related news, EVP Craig C. Hopkinson sold 10,471 shares of the company's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $29.53, for a total value of $309,208.63. Following the completion of 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP Craig C. Hopkinson sold 58,996 shares of the business's stock in a transaction on 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 completion of the sale, the executive vice president now directly owns 83,300 shares of the company's stock, valued at $2,505,664. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Craig C. Hopkinson sold 10,471 shares of the company's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $29.53, for a total transaction of $309,208.63. Following the completion of the sale, the executive vice president now owns 99,238 shares of the company's stock, valued at approximately $2,930,498.14. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.89% of the company's stock.

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.