Public Sector Pension Investment Board Reduces Position in Alkermes plc (NASDAQ:ALKS)

Public Sector Pension Investment Board lowered its position in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 6.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 349,417 shares of the company's stock after selling 22,900 shares during the period. Public Sector Pension Investment Board owned about 0.22% of Alkermes worth $9,780,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ALKS. EFG Asset Management North America Corp. increased its stake in shares of Alkermes by 0.5% during the second quarter. EFG Asset Management North America Corp. now owns 75,864 shares of the company's stock valued at $1,828,000 after buying an additional 359 shares during the period. United Services Automobile Association raised its holdings in Alkermes by 3.1% in the 2nd quarter. United Services Automobile Association now owns 13,208 shares of the company's stock worth $318,000 after purchasing an additional 400 shares in the last quarter. Signaturefd LLC lifted its position in shares of Alkermes by 51.2% in the 2nd quarter. Signaturefd LLC now owns 1,417 shares of the company's stock worth $34,000 after purchasing an additional 480 shares during the period. Handelsbanken Fonder AB lifted its position in shares of Alkermes by 0.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 220,600 shares of the company's stock worth $6,175,000 after purchasing an additional 700 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Alkermes by 44.4% during the 2nd quarter. GAMMA Investing LLC now owns 2,287 shares of the company's stock valued at $55,000 after purchasing an additional 703 shares in the last quarter. Institutional investors own 95.21% of the company's stock.

Insiders Place Their Bets

In other Alkermes news, SVP Christian Todd Nichols sold 5,208 shares of the business's stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $29.15, for a total transaction of $151,813.20. Following the completion of the sale, the senior vice president now directly owns 60,703 shares in the company, valued at approximately $1,769,492.45. The trade was a 7.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Craig C. Hopkinson sold 58,996 shares of the firm's stock in a transaction 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 owns 83,300 shares in the company, valued at approximately $2,505,664. This trade represents a 41.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 74,675 shares of company stock valued at $2,235,622. 4.89% of the stock is owned by insiders.

Alkermes Stock Down 1.0 %

Shares of Alkermes stock traded down $0.30 on Friday, reaching $29.02. The company's stock had a trading volume of 550,117 shares, compared to its average volume of 1,820,018. The company has a market capitalization of $4.70 billion, a price-to-earnings ratio of 14.88, a P/E/G ratio of 0.97 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 52 week low of $22.90 and a 52 week high of $32.88. The firm's fifty day simple moving average is $28.01 and its two-hundred day simple moving average is $26.52.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Piper Sandler restated an "overweight" rating and issued a $37.00 price objective (down from $38.00) on shares of Alkermes in a report on Friday, October 25th. The Goldman Sachs Group lowered their target price on Alkermes from $32.00 to $30.00 and set a "buy" rating for the company in a research note on Friday, October 25th. JPMorgan Chase & Co. reduced their price target on Alkermes from $32.00 to $26.00 and set a "neutral" rating on the stock in a research note on Friday, October 25th. Mizuho raised their price objective on Alkermes from $35.00 to $40.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Finally, HC Wainwright reaffirmed a "neutral" rating and issued a $37.00 target price on shares of Alkermes in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $35.42.

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.