Tidal Investments LLC Takes Position in Alkermes plc (NASDAQ:ALKS)

Tidal Investments LLC bought a new position in shares of Alkermes plc (NASDAQ:ALKS - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 39,211 shares of the company's stock, valued at approximately $1,098,000.

A number of other large investors also recently bought and sold shares of ALKS. V Square Quantitative Management LLC acquired a new position in Alkermes in the 3rd quarter valued at $29,000. Signaturefd LLC raised its holdings in 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 acquiring an additional 480 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Alkermes during the 2nd quarter worth approximately $116,000. GAMMA Investing LLC grew its position in shares of Alkermes by 83.8% in the third quarter. GAMMA Investing LLC now owns 4,204 shares of the company's stock valued at $118,000 after purchasing an additional 1,917 shares in the last quarter. Finally, Archer Investment Corp increased its holdings in shares of Alkermes by 28.6% in the third quarter. Archer Investment Corp now owns 4,500 shares of the company's stock valued at $126,000 after purchasing an additional 1,000 shares during the last quarter. 95.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ALKS. HC Wainwright restated a "neutral" rating and set a $37.00 price objective on shares of Alkermes in a research report on Friday, October 25th. Stifel Nicolaus raised shares of Alkermes from a "hold" rating to a "buy" rating and lifted their price target for the company from $25.00 to $36.00 in a research report on Tuesday, November 5th. JPMorgan Chase & Co. cut 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. Mizuho lifted their target price on Alkermes from $35.00 to $40.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Finally, Piper Sandler reiterated an "overweight" rating and set a $37.00 price target (down from $38.00) on shares of Alkermes in a report on Friday, October 25th. One research 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. According to data from MarketBeat.com, Alkermes has a consensus rating of "Moderate Buy" and a consensus price target of $35.42.

Insider Buying and Selling

In other news, SVP Christian Todd Nichols sold 5,208 shares of the business's stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $29.15, for a total value of $151,813.20. Following the transaction, the senior vice president now owns 60,703 shares of the company's stock, valued at approximately $1,769,492.45. The trade was a 7.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Cato T. Laurencin sold 2,691 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $31.85, for a total value of $85,708.35. Following the sale, the director now directly owns 23,013 shares of the company's stock, valued at approximately $732,964.05. This represents a 10.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 147,738 shares of company stock worth $4,572,904 in the last ninety days. 4.89% of the stock is owned by corporate insiders.

Alkermes Stock Down 0.9 %

Shares of NASDAQ:ALKS traded down $0.26 on Friday, hitting $29.71. 4,636,200 shares of the company's stock were exchanged, compared to its average volume of 1,822,512. The firm's 50-day moving average is $28.79 and its 200 day moving average is $27.16. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.03 and a current ratio of 3.45. The company has a market capitalization of $4.81 billion, a PE ratio of 15.24, a P/E/G ratio of 1.03 and a beta of 0.49. Alkermes plc has a 1-year low of $22.90 and a 1-year high of $32.88.

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.