Royce & Associates LP raised its holdings in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 49.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 67,628 shares of the company's stock after purchasing an additional 22,356 shares during the period. Royce & Associates LP's holdings in Alkermes were worth $1,893,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its holdings in Alkermes by 421.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,326,256 shares of the company's stock worth $225,393,000 after purchasing an additional 6,730,671 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Alkermes by 31.8% in the second quarter. Pacer Advisors Inc. now owns 5,640,642 shares of the company's stock worth $135,939,000 after purchasing an additional 1,362,079 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Alkermes by 14.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,884,012 shares of the company's stock worth $69,507,000 after purchasing an additional 371,039 shares during the last quarter. Armistice Capital LLC boosted its holdings in Alkermes by 301.5% in the second quarter. Armistice Capital LLC now owns 2,699,179 shares of the company's stock worth $65,050,000 after purchasing an additional 2,026,961 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in Alkermes by 87.1% in the second quarter. American Century Companies Inc. now owns 2,203,456 shares of the company's stock worth $53,103,000 after purchasing an additional 1,025,905 shares during the last quarter. Institutional investors own 95.21% of the company's stock.
Analyst Ratings Changes
Several brokerages have recently weighed in on ALKS. JPMorgan Chase & Co. dropped their price target on shares of Alkermes from $32.00 to $26.00 and set a "neutral" rating on the stock in a research note on Friday, October 25th. Robert W. Baird lifted their price target 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. The Goldman Sachs Group dropped their price target on shares of 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 shares of Alkermes from a "hold" rating to a "buy" rating and lifted their price target for the stock from $25.00 to $36.00 in a research note on Tuesday, November 5th. Finally, HC Wainwright reiterated a "neutral" rating and set a $37.00 price target on shares of Alkermes in a research note on Friday, October 25th. One research 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 MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $35.42.
Check Out Our Latest Analysis on ALKS
Alkermes Trading Up 1.8 %
Shares of ALKS stock traded up $0.49 during trading hours on Wednesday, reaching $27.97. 508,630 shares of the stock were exchanged, compared to its average volume of 1,823,094. Alkermes plc has a 12-month low of $22.22 and a 12-month high of $32.88. The company has a current ratio of 3.45, a quick ratio of 3.03 and a debt-to-equity ratio of 0.22. The company's 50-day moving average price is $27.81 and its 200-day moving average price is $26.30. The firm has a market capitalization of $4.53 billion, a price-to-earnings ratio of 14.09, a price-to-earnings-growth ratio of 0.94 and a beta of 0.47.
Insider Buying and Selling
In other Alkermes news, EVP Craig C. Hopkinson sold 58,996 shares of the business's stock in a transaction dated 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 41.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.89% of the stock is owned by corporate insiders.
Alkermes Company Profile
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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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