UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Alkermes plc (NASDAQ:ALKS - Free Report) by 55.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 405,382 shares of the company's stock after buying an additional 144,506 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.25% of Alkermes worth $11,347,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of ALKS. V Square Quantitative Management LLC acquired a new position in Alkermes in the 3rd quarter worth $29,000. Signaturefd LLC boosted its holdings in Alkermes by 51.2% in the second 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 grew its stake in Alkermes by 3,841.0% during the 2nd quarter. Hexagon Capital Partners LLC now owns 1,537 shares of the company's stock valued at $37,000 after purchasing an additional 1,498 shares in the last quarter. GAMMA Investing LLC increased its holdings in Alkermes by 44.4% during the 2nd quarter. GAMMA Investing LLC now owns 2,287 shares of the company's stock worth $55,000 after purchasing an additional 703 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Alkermes during the 2nd quarter worth approximately $116,000. 95.21% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts have recently weighed in on the stock. Stifel Nicolaus raised shares of Alkermes from a "hold" rating to a "buy" rating and raised their price target for the stock from $25.00 to $36.00 in a research report on Tuesday, November 5th. Mizuho raised their price objective on shares of Alkermes from $35.00 to $40.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Piper Sandler reissued an "overweight" rating and issued a $37.00 target price (down previously from $38.00) on shares of Alkermes in a research report on Friday, October 25th. The Goldman Sachs Group reduced their price target on shares of Alkermes from $32.00 to $30.00 and set a "buy" rating on the stock in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. decreased their price target on Alkermes from $32.00 to $26.00 and set a "neutral" rating for the company in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, Alkermes currently has an average rating of "Moderate Buy" and a consensus price target of $35.42.
Read Our Latest Stock Analysis on ALKS
Alkermes Stock Performance
Shares of NASDAQ ALKS traded up $0.27 during mid-day trading on Friday, hitting $31.46. The company had a trading volume of 1,485,652 shares, compared to its average volume of 1,462,843. Alkermes plc has a 12 month low of $22.90 and a 12 month high of $32.88. The stock has a market cap of $5.09 billion, a price-to-earnings ratio of 16.13, a PEG ratio of 1.03 and a beta of 0.49. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.45 and a quick ratio of 3.03. The firm's 50 day simple moving average is $28.32 and its two-hundred day simple moving average is $26.75.
Insiders Place Their Bets
In other Alkermes news, EVP Craig C. Hopkinson sold 10,471 shares of the business's stock in a transaction dated 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 transaction, the executive vice president now directly owns 99,238 shares of the company's stock, valued at $2,930,498.14. The trade was a 9.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Christian Todd Nichols sold 5,208 shares of the firm's stock in a transaction that occurred 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 owns 60,703 shares in the company, valued at $1,769,492.45. The trade was a 7.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 83,896 shares of company stock valued at $2,526,083 over the last three months. Company insiders own 4.89% of the company's stock.
Alkermes 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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